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Disabled Child Giving Parents Rent/room And Board From Ssi

Having a dispute with a tenant or landlord? Rental Law discussion

Disabled Child Giving Parents Rent/room And Board From Ssi

Postby Glaedwine » Fri Dec 02, 2016 2:13 am

s About Taxes)/Disabled child giving parents rent/room and board from SSI Advertisement Expert: John Stancil, CPA - 2/8/2011 I know you recently answered a similar question from another person, but we are really unsure what to do. Our disabled 19 year old son gives us some of his SSI money each month as "rent" to help out. He is required to do so by SSI in order to receive his full disability amount. Some have said we have to declare this as rent on Schedule E, but then it gets into the whole depreciation thing and figuring a Cost Basis which we are struggling with, others say to report it as miscellaneous income, and still others that say it does not need to be included since it isn't reportable by SSI and isn't taxable income to him. We are not trying to get out of paying taxes on the money he gives us if we need to, but do we really need to report it? What he gives us really just goes to help pay for household expenses/bills. Often we just turn around and use it to help him out like paying for some of his meds not covered by insurance.

Thanks for your advice.
Glaedwine
 
Posts: 49
Joined: Sun Mar 02, 2014 7:18 pm

Disabled Child Giving Parents Rent/room And Board From Ssi

Postby lundie » Fri Dec 02, 2016 6:34 pm

s About Taxes)/Disabled child giving parents rent/room and board from SSI Advertisement Expert: John Stancil, CPA - 2/8/2011 I know you recently answered a similar question from another person, but we are really unsure what to do. Our disabled 19 year old son gives us some of his SSI money each month as "rent" to help out. He is required to do so by SSI in order to receive his full disability amount. Some have said we have to declare this as rent on Schedule E, but then it gets into the whole depreciation thing and figuring a Cost Basis which we are struggling with, others say to report it as miscellaneous income, and still others that say it does not need to be included since it isn't reportable by SSI and isn't taxable income to him. We are not trying to get out of paying taxes on the money he gives us if we need to, but do we really need to report it? What he gives us really just goes to help pay for household expenses/bills. Often we just turn around and use it to help him out like paying for some of his meds not covered by insurance.

Thanks for your advice.
lundie
 
Posts: 58
Joined: Fri Apr 01, 2011 9:22 pm

Disabled Child Giving Parents Rent/room And Board From Ssi

Postby Omar » Fri Dec 02, 2016 11:11 pm

Tim,

Thanks for your question.

It is not taxable income to you.  He is merely helping to pay his support.  You call it rent, but it is really more than that.  It's food, shelter, medications, clothing, transportation, and the like.  In essence, he is reimbursing you for your out-of-pocket expenses in caring for him.

Hope this helps.

John Stancil, CPA
Omar
 
Posts: 49
Joined: Fri Jan 10, 2014 5:25 pm


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