My son moved out in 2019, he is 23 and works but my wife and I have spent well over $10,000 in 2020 to help him continue to live on his own. He had signed a years lease.

drcharlestx · ‎June 15, 2021

Can we deduct some or all of our financial support ?

VolvoGirl · ‎June 15, 2021

Sorry Personal "gifts" are not deductible. Is he a full time student?

xmasbaby0 · ‎June 15, 2021

If your son was not a full-time student and had over $4300 of income in 2020 you cannot claim him as a dependent nor can you enter anything about the money you gave him. Money you give your child as a gift is not deductible.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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My son moved out in 2019, he is 23 and works but my wife and I have spent well over $10,000 in 2020 to help him continue to live on his own. He had signed a years lease.