The unfortunate thing is our time and energy has absolutely no value based on the current law. If she went into a facility, she would pay at least 7000 more than her income. How can that not be a fair comparison as to what we Contribute—7000 per month, 84000 per year. Somehow a legislation must be put in place for these types of issues. We get zero respect for what we do. Not fair and we get zero help from his 2 brothers and their wives. The expectations are the inheritance split between the 3 of them, while my time goes unnoticed and I provide the majority of the care.
Ask an attorney or your tax preparer. Every state may be different and you want professional advice / responses. You want to track all expenses / keep good clear records of expenditures.
Even if everyone here has their own experience, find a professional.
Although apparently the tax board doesn't answer 98% of their calls . . . so don't bother calling them.
BEST ANSWER: Talk to an elder law attorney or tax adviser that deals with elder affairs because you're going to get conflicting and sometimes incorrect information from people here in this thread. The professionals will know for sure and can advise on your situation.
Family caregivers contribute, to look after your mom for 24/7 hr a day. When tax season rolls around, it’s important to understand that you may be able to claim your care recipient as a dependent on your tax return and lower your tax bill. The answer lies in the following five tests set up by the IRS: They must be related to you. They must have an annual gross income of less than $4,000. You must provide more than 50% of their financial support for the year. With these qualifications in mind, let’s take a look at some special circumstances that might apply to you and your parents. Matilda
Do you take your mother's monthly income? If so then you can't claim her as a dependent unless you're paying more than half of the living expenses. At your age you would do well to consider placement for your mother. 67 is too old to have to take care of an elderly person 24/7 with one week-end a month off. Check out different facilities. In the meantime, tell your sibling that they will be splitting the month with you. Mom will be going to them for two weeks at a time then back to you for two weeks at a time until more permanent placement arrangements have been made.
67 is too old??? Age isn't a factor at all. Just your ability to care for someone else. If you're more limited due to health or other reasons than the person who needs care, you could be 20 years old.
If you're up to it and willing, you can take care of someone 24/7 with no time off. Period. Been there, done it. You might try to tell siblings they are going to take mom for equal periods of time, but those siblings have to be willing as well. Siblings also have to be available to do the care. Many, many folks in their 60's are still employed FT.
Is it really worth worrying about. You do not get that deduction in hand, its part of your total. If Mom still files, I would go to who gets the most returned. Actually, paying a CPA to ask the question would probably be as much as what you get in return.
For 2022, the standard deduction for dependents is limited to the greater of $1,150 or your earned income plus $400—but the total can't be more than the normal standard deduction available for your filing status. For 2023, the limit will be $1,250 or your earned income plus $400, whichever is greater.Oct 24, 2022
Do you have any retirement benefits for yourself, and able to provide more than 50% for your mother's care? Social security as the only source of income is not much income for even yourself. What about your mother's retirement benefits?
I am amazed how family gives up their lives to care for loved ones. You require more respite relief to help with your mother's care. How long do you think you can go on without help for your mother's care?
She lives with her mother and is not working. I doubt if she is paying 50% of Mom's care. And if Mom is still paying taxes, she is entitled to claim herself.
I agree with others that this is a question for a CPA. You would have to contribute a certain percentage of your Mom's living costs to her in order to claim her on your taxes and my hope is that you are not doing that. Who will take care of YOU when you enter old age yourself? It sounds to me as though you need to see an elder law attorney. You may need a care contract that enumerates what Mom pays for out of SS or pension to you for shared costs of living. Wish you good luck.
I would say No. You live with her. Had she been paying her own bills and surviving? As said, you have to be contributing 50% of her care. I would talk to a CPA who does tax preparation.
From your profile: "I am 67 and I have given up my job, mostly my active lifestyle to take care of my 93 yr old mother. She has mobility issues, confusion, and is a fall risk which requires 24/7 care. My sister gives me one weekend a month respite. I truly appreciate this but it is not enough. "
So you've given up your job and your life. S helps one weekend/month, and POA brother does...what? Are there also other siblings? How did you become the one to make all the sacrifices? How long do you expect this to continue?
According to IRS, you would have to show you pay for more than half of her expenses. And, the amount you spend for that support has to be at least $1 more than her income. If she collects SS, a pension, or other income...add it together, then figure out how much your budget is used to pay for her living with you. If that figure is $1 more than what she gets...then you can claim her. https://turbotax.intuit.com/tax-tips/family/steps-to-claiming-an-elderly-parent-as-a-dependent/L34jePeT9
Every state may be different and you want professional advice / responses. You want to track all expenses / keep good clear records of expenditures.
Even if everyone here has their own experience, find a professional.
Although apparently the tax board doesn't answer 98% of their calls . . . so don't bother calling them.
Gena / Touch Matters
Disclaimer: Not my authoring.
She needs to hire a professional tax accountant or attorney specializing in this area ... to be sure.
The answer lies in the following five tests set up by the IRS:
They must be related to you.
They must have an annual gross income of less than $4,000.
You must provide more than 50% of their financial support for the year.
With these qualifications in mind, let’s take a look at some special circumstances that might apply to you and your parents.
Matilda
At your age you would do well to consider placement for your mother. 67 is too old to have to take care of an elderly person 24/7 with one week-end a month off.
Check out different facilities. In the meantime, tell your sibling that they will be splitting the month with you. Mom will be going to them for two weeks at a time then back to you for two weeks at a time until more permanent placement arrangements have been made.
If you're up to it and willing, you can take care of someone 24/7 with no time off. Period. Been there, done it. You might try to tell siblings they are going to take mom for equal periods of time, but those siblings have to be willing as well. Siblings also have to be available to do the care. Many, many folks in their 60's are still employed FT.
For 2022, the standard deduction for dependents is limited to the greater of $1,150 or your earned income plus $400—but the total can't be more than the normal standard deduction available for your filing status. For 2023, the limit will be $1,250 or your earned income plus $400, whichever is greater.Oct 24, 2022
I am amazed how family gives up their lives to care for loved ones. You require more respite relief to help with your mother's care. How long do you think you can go on without help for your mother's care?
It sounds to me as though you need to see an elder law attorney. You may need a care contract that enumerates what Mom pays for out of SS or pension to you for shared costs of living.
Wish you good luck.
So you've given up your job and your life. S helps one weekend/month, and POA brother does...what? Are there also other siblings? How did you become the one to make all the sacrifices? How long do you expect this to continue?
https://turbotax.intuit.com/tax-tips/family/steps-to-claiming-an-elderly-parent-as-a-dependent/L34jePeT9
Then talk with her or your accountant.