My parents are over 65 and they live with me. I am the head household and their living expenses are based on their social security. I'd like to claim them as dependents so that I can get more deduction. But will this decrease the amount of money they get from Social Security?
2007-03-06 15:03:48 · 2 answers · asked by netbrowzer 1 in Business & Finance ➔ Taxes ➔ United States
Social Security is not welfare. It is based on the earnings of the recipient. It is not reduced by any other support provided to the recipient.
You can claim your parents as dependents if you provided over half of their support, and they have taxable income less than $3,300.
Support for the retired parents includes Social Security benefits they received which were spent on their support. From the wording of your question, it appears that they support themselves from SS. In this case, they are not your dependents.
2007-03-06 15:09:34 · answer #1 · answered by ninasgramma 7 · 2⤊ 0⤋
No, but I doubt that the IRS will let you do it. You would have to prove that you contribute more than half of their living expenses.
and that they are not contributing to house expenses.
2007-03-06 15:09:51 · answer #2 · answered by October 7 · 0⤊ 2⤋