My parents are 63 and 64 and both are disabled and receive benefits. I provide for their living expenses. If I declare them as dependents on my taxes will this then affect there benefits and will I become liable for their additional medical expenses or past debts?
2007-02-21 11:32:07 · 3 answers · asked by S H 1 in Business & Finance ➔ Taxes ➔ United States
No, that will not affect their benefits. Nor will it make you liable for any medical bills or other debts unless you sign as guarantor for payment of them.
2007-02-21 11:41:19 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
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2016-10-07 19:17:02 · answer #2 · answered by ? 3 · 0⤊ 0⤋
When u say disability benefits... if they are SSI disabled, elderly whether it's Federal and /or State assistance... it's possible to affect their benefits. But if your providing the majority of their care financially you should take the tax credits. If the disability benefits are from former employers or private plans then it shouldn't affect them one way or another. Usually your tax accountant can do some research and give you your options. Good luck
2007-02-21 12:03:44 · answer #3 · answered by Staci 4 · 0⤊ 0⤋