Have Tax Questions? Ask a Tax Expert for Answers ASAP
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.
Good afternoon. Does he transfer excess money into the account or simply enough to pay the bills? Thanks.
He transfers about 20 dollars more then what the bills are
Thanks. In that case, this is not income. Rather, it is simply a deposit to pay his bills. The money does not belong to you and does not increase your net worth at all. The extra 20 dollars could be considered income if paid to you to compensate you for these services. Otherwise, if you had to give it back, it would not be income. Or, you could treat is as a gift if it was not to be paid back and not designed to compensate you.
I hope this has given you information that has beenhelpful to you. If the information seems more general than specific, please be aware that we are only allowed toprovide information and not specific advice. If you have a follow-up question, please remember thatthere might be a delay between your follow up questions and my answers becauseI may be helping others or taking a break.
If you do have any additional questions about my answerplease simply ask a follow up question without rating so I can provideyou with a fully satisfactory answer. Please be aware that any rating of 1 or 2 isreflected as a negative rating, reflects negatively on my performance, and Ireceive no credit for my answers.
Thanks for allowing me to be of service to you. Please beaware that the information provided here is not legal advice. Rather it issimply general information. All states have intricacies in their laws and anyinformation given is simply information only and specifically is notintended to be, nor does it constitute, legaladvice. This communication does not establish an attorney-client relationshipwith you. I hope this answer has been helpful to you.