Solved: If my girlfriend wants to double my mortgage payment every month to help pay off my mortgage faster do I have to claim as income?
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If my girlfriend wants to double my mortgage payment every month to help pay off my mortgage faster do I have to claim as income?

For example, my mortgage is $600 per month, my girlfriend wants to pay me $600 additional per month bringing my total payment to $1,200 for the month. It is only my name on the house. I was curious if paying over the minimum mortgage payment would make her additional $600 to be considered income instead of shared expenses. Bonus points question: if we go through in this manner is it best for her to pay my account directly (ie. Gift me the money)... Or option 2 open shared account we both pay into and debit said account. Any help is greatly appreciated!
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Expert Alumni

If my girlfriend wants to double my mortgage payment every month to help pay off my mortgage faster do I have to claim as income?

No, this is not income to you because the money is a gift.  You can choose to make the payment under whichever method works for both of you.

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3 Replies
Expert Alumni

If my girlfriend wants to double my mortgage payment every month to help pay off my mortgage faster do I have to claim as income?

No, this is not income to you because the money is a gift.  You can choose to make the payment under whichever method works for both of you.

View solution in original post

New Member

If my girlfriend wants to double my mortgage payment every month to help pay off my mortgage faster do I have to claim as income?

Thanks for your response! If her gift is under the 14 k annual exclusion rate, does she need to claim or file the gift tax return?
Expert Alumni

If my girlfriend wants to double my mortgage payment every month to help pay off my mortgage faster do I have to claim as income?

No.
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