[Show all top banners]

nepdoc
Replies to this thread:

More by nepdoc
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 Is money sent to support family tax deductible?
[VIEWED 2708 TIMES]
SAVE! for ease of future access.
Posted on 03-04-24 8:59 AM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

I have heard that you can claim the money sent to support aging parents as tax deductible. Is that true? Any other tax loopholes?
 
Posted on 03-04-24 11:01 AM     [Snapshot: 83]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

First hand information is better than second hand.
Here is the information your are looking for.

Please, share you finding.

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf
Last edited: 04-Mar-24 11:47 AM

 
Posted on 03-04-24 1:30 PM     [Snapshot: 175]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Logan that is a 100 page document. If you cant help, don’t waste others time. Thank you
 
Posted on 03-04-24 5:04 PM     [Snapshot: 301]     Reply [Subscribe]
Login in to Rate this Post:     1       ?     Liked by
 

This is not a legal or financial advice, please use your judgment

In the U.S., you may be eligible to claim an aging parent as a dependent, which in turn could provide you with certain tax exemptions, deductions, or credits. These could include the Credit for Other Dependents, or potentially the Child and Dependent Care Credit if you pay for your parent's care to allow you to work, among others.

One of the key conditions to claim a parent as a dependent is that they must be a U.S. citizen, resident alien, U.S. national, or a resident of Canada or Mexico for some part of the year. If your parent lives overseas in a country other than Canada or Mexico, you generally cannot claim them as a dependent.

Even if they are a resident of Canada or Mexico or U.S. citizen living abroad, to claim them as a dependent, you must also be providing more than half of their financial support, and their gross income must be under a certain limit.

It's essential to get guidance from a tax professional or a Certified Public Accountant (CPA) to understand your unique situation and the tax laws of the specific country where your parent resides. Keep in mind that tax laws can be complex and vary vastly from country to country.
 
Posted on 03-04-24 5:35 PM     [Snapshot: 295]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

As I wrote first hand information is better than second hand.
Yes, it has over hundred pages and it has the answer you are looking for. That is the site we use to find answers.
You should have thank me because I did not put a link that is totally irrelevant to your question. Why it would be waste of others time (you even did not try to look at the table of contents, did you gave up seeing the number of pages?)?
Hope you have find the answer before reading this comment.
Thank you.
 


Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 365 days
Recommended Popular Threads Controvertial Threads
TPS Re-registration case still pending ..
TPS Re-registration
What are your first memories of when Nepal Television Began?
निगुरो थाहा छ ??
ChatSansar.com Naya Nepal Chat
Basnet or Basnyat ??
Sajha has turned into MAGATs nest
NRN card pros and cons?
Toilet paper or water?
TPS EAD auto extended to June 2025 or just TPS?
Do nepalese really need TPS?
Biden out, Trump next president, so what’s gonna happen to TPS, termination?
Nas and The Bokas: Coming to a Night Club near you
and it begins - on Day 1 Trump will begin operations to deport millions of undocumented immigrants
मन भित्र को पत्रै पत्र!
Will MAGA really start shooting people?
Democrats are so sure Trump will win
Tourist Visa - Seeking Suggestions and Guidance
From Trump “I will revoke TPS, and deport them back to their country.”
Anybody gotten the TPS EAD extension alert notice (i797) thing? online or via post?
Nas and The Bokas: Coming to a Night Club near you
TPS Update : Jajarkot earthquake
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.

Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters