Originated From
Dolans

Hi, We have an adult son living at home.He contributes to the house hold. Do we have to pay taxes on that money? If so how much? Irene

 

Hi,

We have an adult son living at home.He contributes to the house hold. Do we have to pay taxes on that money? If so how much?

Irene

Liked this question? Tell your friends about it

3 Answers

Order by
Oldest to Newest
Newest to Oldest
Votes

Don't put this on your tax's unless he is paying for everything.

Since you did not mention the age of your son, you need to look at this web page from the IRS regarding your question.

Don't sweat the petty things and don't pet the sweaty things.

Are you kidding ? NO WAY, as a matter a fact not only do you not offer that information, I would claim him as a dependent who pays nothing towards anything. where does his money go ? who knows ? who cares ? as long as it's not spent entirely on drugs and whatnot ? it just go's... movies, dates, fast food, whatever ? but I don't see you receiving a penny for anything, including the food he eats out of your refridgerator (which I would write off also) hope this helps!!

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: How does one determine the taxable portion of a ...

How does one determine the taxable portion of a qualified distribution with employee contribution when it is unknown on the 1099R?

Asked: Does PBS accept mountain property free and clear ...

Does PBS accept mountain property free and clear but not sold? Value about 10,000 to 13000. As a contribution?

Asked: Partlow adult home

partlow adult home

Be The First To Answer

Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them