For Caregivers
Question: My parent is suffering from dementia. As a result, I must cash his/her monthly social security check and use the proceeds for his/her care. What are the resulting tax consequences?
Answer:
Your parent’s social security benefits are not taxable to you. In determining whether your parent is your dependent, you should consider the benefits used for your parent’s support as support provided by your parent.
See Publication 501, Exemptions, Standard Deduction, and Filing Information, for additional information.
Category: IRS Procedures
Subcategory: For Caregivers
