They are getting Social Security benifits and have Medicare? Will those benifits be effected, if I do so?
2007-12-16 11:53:21 · 4 answers · asked by niknamm 2 in Business & Finance ➔ Taxes ➔ United States
go to the IRS website or to your local tax preparer office
2007-12-16 11:57:36 · answer #1 · answered by HOMITA DEL VALLE 2 · 0⤊ 2⤋
You can claim your parents on your tax return if
1. You provided over half of their support. If they live in their home which has no mortgage, the fair rental value of that home is considered support provided by them.
2. Each of them had income subject to tax of less than $3,400.
If you can claim one or both parents as dependents, plus you paid for over half the cost of maintaining their home, then you may qualify for the head of household filing status if you are unmarried.
Their Social Security and Medicare benefits are not affected by their dependency status.
2007-12-16 14:10:05 · answer #2 · answered by ninasgramma 7 · 0⤊ 0⤋
You can claim them if you provided over half of their support, as long as each of them didn't have gross income over $3400 for the year, not counting social security. If one or both of them has a pension, that would keep you from claiming that person if it's over $3400.
Their social security benefits and medicare won't be affected if you claim them.
2007-12-16 13:58:10 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
If your parents have no other income, you would still have to show that you provided more than half of their support. If they get $2000 a month from SS, you must show that their expenses were more than $4000 a month.
2007-12-16 11:59:32 · answer #4 · answered by Anonymous · 2⤊ 1⤋