Each month I pay my parents $300 so they can support themselves. My father still works and so is my mother. They filed a joint return themselves. They DO NOT live with me.

Can I get any tax benefits for my monthly payments to my parents?

  • tax deduction questions require the country be specified. – mhoran_psprep Feb 18 '16 at 2:01
  • This would like be viewed as a gift, not charity. And while it should be well under the limit and thus not taxed itself, it won't give a tax benefit either. But yes, please specify the location. – Matthew Read Feb 18 '16 at 2:03
  • Myself and my parents are located in Houston, TX USA – JohnDoe Feb 18 '16 at 2:05
  • Do they include the $300 per month as part of their earned income in their taxes? – Victor Feb 18 '16 at 3:50
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    You give them money so they can support themselves? That sounds like a contradiction. – JohnFx Feb 18 '16 at 5:10

The only way that I know that you could get a tax benefit for yourself is if you could claim them as dependents. That would let you get an exemption for them, which isn't a lot anyway.

The fact that they don't live with you does not matter since they are your parents and there's an explicit rule allowing for that. (https://www.irs.gov/publications/p17/ch03.html#en_US_2015_publink1000170951) You would still need to show that you provide more than 1/2 their support, that their gross income is less than $4000/yr, and they would have to file separately unless they met the exception on that one. (https://www.irs.gov/publications/p17/ch03.html#en_US_2015_publink1000170857) Sounds like none of those apply in your case.

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  • None of these apply in my situation! Thanks for the advice! – JohnDoe Feb 18 '16 at 17:28

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