My parents probably did not report the rent I paid them as income on their tax return. I am thinking of filing an amended tax return which includes the nonrefundable renter's credit.
2007-03-02 13:34:04 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
First answer is correct. You can claim anything that is allowable for your State. BUT, in return, those involved must claim the income. So, you may be able to claim this "IF" you have receipts to prove. Then it up to your parents to explain why they not claim the income.
I think the IRS call it "Tax Evasion". That how the FBI got Al Capone, if I remember correct.
2007-03-02 13:47:04 · answer #1 · answered by Snaglefritz 7 · 0⤊ 0⤋
If you claim the rent but they don't report it as income, then they might get audited.
2007-03-02 13:37:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋