I financed a car under my name so that my sister could drive to work and my mother (who I'm claiming as a dependent, myself as head-of-household) could get groceries and run basic errands. I myself do not use the car at all—I live on the other coast.
How do I factor this into my taxes? That is, do I count these payments as support given to my mother (and sister—though I'm not claiming my sister as a dependent because she earns enough of her own income), or is it something that's counted as if it's entirely used by me and only me (with no regard to my family)?
My argument for the former is that, I could have just as well had my mother purchase the car in her name (albeit at a higher interest rate—I have slightly better credit) and given her the funds monthly. But I can see the argument for the latter in that, I'm "transferring" use of a vehicle I "own" (at least, financed) to family members, and so it has nothing to do with (direct) support. (In which case, I assume my best course of action is to "sell" my car to my mother or sister as soon as possible, for next year's taxes...)
If it matters, the amount is a 60-month loan at $400/month.