Question

I have $6000.00 dollars of income from taking care of my father. we need to claim it as income and do not have a 1099 for it. Received as monthly cash payment.

Forum|Forum|7 years ago
June 1, 2019
6 replies
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TurboTax Deluxe Online

Employee

Was this money that your father paid you, or was it paid by someone else?

Employee

Does he plan to claim a deduction for the expense?

dpatrick003Author

paid by father

dpatrick003Author

no he doesn't file income tax

Employee

One way to handle these funds would be for you and your father to agree that this is a gift. Since the total amount is below the reporting threshhold for gifts (which is $14,000), there would be no reporting or tax consequences to either you or him.

This would be the simplest way to handle this and would provide the best tax result to you without creating any problems or additional reporting for your father.