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Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 29040
Experience:  30 years experience representing clients.
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My mother-in-law lives with us and pays us $36,000/yr to take

Customer Question

my mother-in-law lives with us and pays us $36,000/yr to take care of her. do we need to claim this as income?
Submitted: 7 months ago.
Category: Legal
Expert:  Loren replied 7 months ago.
Good afternoon. I am Loren, a licensed attorney I look forward to assisting you.Yes, that is income to you if she is paying you for her care and must be reported on your tax return. You may be better off if she just gives it to you as a gift. Even though it exceeds the annual amount exemption, if her her estate does not exceed $5.45 million it will not really matter.
Expert:  Loren replied 7 months ago.
Are you online with me?
Expert:  Loren replied 7 months ago.
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Expert:  Loren replied 7 months ago.
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