Can I claim only one parent because of income?

Follow
Share

I live with both my parents but pay their mortgage and 90 percent of their expenses the problem is my father has a 500.0 per month pension so I cannot count him as a dependent but my mom does not get any money other than social security, so could I claim her and not my father?

This question has been closed for answers. Ask a New Question.
11

Answers

Show:
Does mom file a tax return? Does dad file a tax return? If so, YOU can't claim them. Also if you claim them as dependents on your tax return, their income, I believe, is taxable. Did you file for an extension? I am surprised if you did not that you waited so long to cone to this forum to ask these questions.
Helpful Answer (0)
Report

I am not sure if you can claim either parent as a dependent because your father receives a pension and your mother receives social security. A starting point would be to contact a GOOD CPA.
Helpful Answer (0)
Report

My Mother has lived with us for 3 years, we have not been able to claim her as a dependent, I have been told this by 2 different CPA's due to her income. We pay for just about everything. My sister watches Mom's account like a Hawk, she already thinks the money is her's. so I at this point have gave up on even thinking it will be any different. If I even make a comment that she should be paying for some stuff my sister goes crazy. Its not that she will lift a finger for mom's care so we have her 24/7. I guess I could take her to court but I just don't want to have to go through that. I though well maybe I could claim her as a dependent but I have been told NO.
Helpful Answer (0)
Report

You must also remember that if you claim mom and dad files a tax return of his own that will change his filing status to married filing seperate. If they are in a state like michigan where they get a property tax credit from the state that may change also. My suggestion is see an H &R Block enrolled agent. The cost will be so much less than a cpa and once you see how they do it this year you can then do yourself next year on your own. Just trying to help you avoid potential problems.
Helpful Answer (0)
Report

Keep in mind that if you claim one or both of them, some or all of their income MAY become taxable. It's all formula driven so it's hard to answer without plugging in the numbers.
Helpful Answer (1)
Report

The above comments about providing over 50% of the support for someone is correct. You don't need to pay a CPA. There are many free tax preparer programs out there. They can tell you and prepare your taxes as well. Like AARP or CASH. Check with you local Office for Aging, they should know.
Helpful Answer (1)
Report

As long as you provide at least half of your dad's support you can claim him as a dependent.
Helpful Answer (0)
Report

The IRS test is 50% or more support. So your tax professional has a form its layed out in columns. All expenses are listed and you check you pay or they pay column. If you can show that you pay over 50% of their expenses( all expenses food, utilities, house payment, medical costs) then the IRS will allow you to claim. Its tricky so see a professional.
Helpful Answer (2)
Report

Go to a tax professional, you can claim both. They look at your income against your parents. I'm guessing you are golden to claim them both.
Helpful Answer (1)
Report

You need to speak with a Tax CPA, (or maybe an Eldercare specialist) preferably one who has specialized knowledge in this area. We had one CPA who said that we could not claim my MIL as a dependent, but when we change to another CPA, for a different reason, we were told that since we were providing over half of her living expenses that we could claim her.
Helpful Answer (2)
Report

This question has been closed for answers. Ask a New Question.
Related
Questions