Questing regarding giving parents money.

[Francisco2019]

Good Evening, My question is giving money to parents can I claim it as tax deduction on my tax. But I don't claim them as dependent. For example: I give them $500 per month = $6,000 yearly. So can I claim that $6,000 deduction on my tax return to reduce my taxes?

[macuser_22]

No.  Gifts do not go on a tax return.

[xmasbaby0]

No.   Gifts to your parents are not deductible.  You cannot claim gifts to individuals as a deduction--only donations to recognized charities can be deducted.   

And....even if you claim your parents....you do not get to enter the $6000.   You would only get a $500 credit for other dependents for each parent that you claim as a dependent.  

If the amount you gave them is not over half their support for the year, then you cannot claim them.  But it is very nice that you are helping your parents.

[Francisco2019]

Understand. Thank You