Do we have to report when we buy furniture?? We bought my son a bed with his money, but we bought us a bed with our own money. Do we have to report that too??? I'm new to this. Serious answers only please.
2007-01-28 09:12:43 · 7 answers · asked by Kajunfriend2006 2 in Pregnancy & Parenting ➔ Parenting
Again, do I have to report the bed we bought for ourselves, even if I didn't use his SSI money.
2007-01-28 09:34:13 · update #1
Again, do I have to report the bed we bought for ourselves, even if I didn't use his SSI money.
2007-01-28 09:34:15 · update #2
If you get another vehicle
If you move
If someone moves in or out of your home
If your income increases or decreases
If the person receiveing the ssi passes or moves out of your home.
You do not have to tell them what you bought. You take out one third of the money and that goes towards house hold put it in your account. What ever is left is his. You will do best to open a separate account for him, have the check electronically mailed to the bank, and then when you buy something or transfer money from his account write in the check book where money was spent or why you transferred it.
You also need to send in your pay check stubbs every month, we almost lost our ssi because we did not do that for our son. This helps them keep up.
If you receive the full amount you will want to spend the lot of it on him and use some to pay bills. Buying him a new bed or cloths tv computer all those things are fine. If you want to buy it for the family write it down as house hold needs. I just bought my son a tv and dvd player and put his name on the bottom of it, if anything happens to my husband and I it belongs to him really because he bought it.
But really we were advised by MHMR who was helping us get ssi to do a separate account for his checks. We have done that for over a year now. when his checks or put in electronically we automatically take out house hold and then do his shopping.
Each year you will receive paper work to feel out and it will ask you if the money was spent on him and how much. If you are doing house hold and then spending the rest on him then you will be able to say the entire amound was spent on him.
2007-01-28 14:08:43 · answer #1 · answered by trhwsh 5 · 2⤊ 0⤋
OK, SSI works like this.
If you got a bulk reward (over $500 I believe) you must deposit the money in an account that states your name and FBO (For benefit of) child's name.
The money that you received stays in the account unless you have permission to use it. Permission is granted if the condition warrants it. Example with the bed. If the bed was a hospital bed and his illness requires it you get permission. If the bed is a car bed chances are it will not be approved. If you purchased it without permission - fess up you may get audited. If you tell them you misunderstood they will allow you to pay it back (+ interest)
If you used the money from his monthly SSI check, that is OK. The monthly check is to go for his day to day living expenses. Examples is if 4 people live in the house 1/4 rent 1/4 food 1/4 electricity.
Good luck
Additional details
No - you do not report the bed. However, I would keep the receipts to show SSI if you ever do get audited how you financially took care of him. Good luck
2007-01-28 09:26:13 · answer #2 · answered by Anonymous · 1⤊ 0⤋
You rarely have to report exactly how you spent his benefits, but just to be on the safe side, keep all receipts for big-ticket items such as beds. If you habitually take lavish vacations and the like, someone may shortly decide to audit you - so don't make doing that a habit. As long as it's not obvious you're wasting his benefit money and failing to meet his needs, nobody in authority is terribly likely to come snooping - there enough stupid people out there who do misuse said funds to keep the investigators quite busy.
2007-01-28 09:32:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No. You report only what you spend HIS money on. Keep the reciepts as proof. By the way, household expenses count. (ie Food, water, lights, heat, rent/mortgage) You can "charge" a percentage of these things from that money. It is after all to help take care of him, and all those thing do that.
2007-01-28 10:34:38 · answer #4 · answered by autumnofserenity@sbcglobal.net 4 · 2⤊ 0⤋
you dont report anything unless the government ask you to.you get a yearly report on how much you spend on him for things such as food and clothing.....the government can care less about what you do with your own money.its none of their concern.
2007-01-28 09:24:04 · answer #5 · answered by mack j 2 · 0⤊ 1⤋
whats SSI
2007-01-28 09:16:58 · answer #6 · answered by Anonymous · 0⤊ 1⤋
If they send you a 1099 (I'm guessing that is what it would be on.) then yes you have to report it.
2007-01-28 09:21:36 · answer #7 · answered by JS 7 · 0⤊ 1⤋