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Mtgiedd
August 18, 2023
Question

Taxable income

  • August 18, 2023
  • 2 replies
  • 0 views

My son gives me $645 a month to pay for his phone bill and insurance plus to help me pay for my HOA expenses he doesn’t live here anymore is this taxable?

2 replies

DoninGA
DoninGA
August 18, 2023

No, that income is not taxable.  Those are gifts to you from your son and gifts received are not reported on a tax return.

    N
    NCPERSON1
    August 19, 2023

    and most of what you asked about isn't even a gift! if he is reimbursing your for his fair share of the phone bill and his insurance, that isn't even a gift! 

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