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Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3152
Experience:  EA, CEBS - 35 years experience providing financial advice
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Is th social security check that your parent receives ...

Resolved Question:

Is th social security check that your parent receives monthly considered taxable income?
Submitted: 8 years ago.
Category: Tax
Expert:  Bill replied 8 years ago.

If social security is the only income that your parent receives and his/her filing status is single, then it is not considered taxable income. If your parent receives other income but the sum of 50% of the social security benefits plus all other income is less than $25,000, then none of the social security is taxable.

http://www.irs.gov/newsroom/article/0,,id=179091,00.html

 

Customer: replied 8 years ago.
Reply to Bill's Post: I want to know if I can claim my 87 year old mother as a dependent since she lives with me, but it says if she makes more than $3,400 in taxable gross income for the year I can't. I need to know if the monthly Social Security check is considered taxable income.
Customer: replied 8 years ago.
Are you still with me Bill?
Customer: replied 8 years ago.
After waiting almost 3 hours for a reply I have given up. I don't need your help, I called an account friend and got the answer in 15 minutes. I'm very disappointed since all of the comment's on your site were so positive.
Expert:  Bill replied 8 years ago.

I am sorry that I did not respond sooner but I was away from my PC. If you provide more than half of her support then you can claim her because her social security is not counted for the $3,400 test because it is tax-exempt in this situation.

See page 14 - http://www.irs.gov/pub/irs-pdf/p501.pdf

 

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