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Wayne Brasch
Wayne Brasch, Accountant and Business Consultant
Category: Tax
Satisfied Customers: 1298
Experience:  Master of Science in Taxation. Tax experience since 1963.
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I am 100% disabled. I receive a small pension from the VA ...

Customer Question

I am 100% disabled. I receive a small pension from the VA only $1,840.00 each month and the VA Hospital provides all my medical care and medications at no charge since this is all we get. I am clasified as house bound and under aid and attendance. My wife is my primary care provider. I have a very good friend willing to give us a few hundred dollars a month to help us get by. According to the VA pension center I can accept gifts and it will not affect my pension or need to be reported. My question is how can my friend write these gifts off on his taxes. I asked a local account and he was unsure of the proper way to do it. I found this site today and thought I would give it a try. I pray you know what we can do so he can write these gifts off, it will truely be a blessing for both of us if it can be done.
Submitted: 6 years ago.
Category: Tax
Expert:  Wayne Brasch replied 6 years ago.
Gifts are not taxable income to the person receiving the gift, but neither are they deductible by the one doing the giving. If that person gives you more than about $12,000 each calendar year, they may be subject to being required to file a Gift Tax return each year.

Gifts or contributions to individuals are not deductible by the one doing the giving. I know this is not what you wanted to read, but that is the way the tax law is written in this situation.
Wayne Brasch, Accountant and Business Consultant
Category: Tax
Satisfied Customers: 1298
Experience: Master of Science in Taxation. Tax experience since 1963.
Wayne Brasch and 3 other Tax Specialists are ready to help you
Customer: replied 6 years ago.
That sounds just like our greedy goverment. Another friend of my said I should setup a foundation in my name and then he thinks I could accept gift and the giver could write them off. Anyway I am at a loss as to what we can do now. My wife and I barely get by and with prices of everything going higher and higher we will have to do with out more and more. We only eat breakfast and a little supper now because we can't afford more food. If you figure out anything else that we can do that is legal that will work for my friend to be able to do the write off please let me know.
Thanks very much, Customer
Expert:  Wayne Brasch replied 6 years ago.
A foundation will still not accomplish what you need in terms of your friend being able to deduct what he gives you to survive on. If you are a member of a church, you could talk with the church officials and make arrangements with them for this friend of yours to give the money to the church and have it labeled as being for your use. If that can be accomplished, whatever he gives to the church can be deducted on his personal tax return. Many times, churches are willing to help their members when they face situations such as yours.

I wish you much good luck in the future.

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