My 91 year old Dad moved in with me and pays $500 a month towards expenses. Do I need to add this to my income? He is financially independent.

august579 · ‎February 14, 2023

Bsch4477 · ‎February 14, 2023

No, that’s just cost sharing.

xmasbaby0 · ‎February 14, 2023

You do not have to add anything about family cost sharing on a tax return.

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JosephS1 · ‎February 14, 2023

No, you do not need to include his payments as income to you. He is paying for his own support. If he lives with you and you can prove you have provided more than half of his support you may be able to claim him as a dependent.

You would need to know his total income and that you can prove you paid more than half of his support to claim him. That would include retirement, social security, interest, etc.

Regardless of his dependency status, his payments to you are for his support and need not be claimed as income by you.

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My 91 year old Dad moved in with me and pays $500 a month towards expenses. Do I need to add this to my income? He is financially independent.