D. Stussy wrote:
- quote -

opinions and see which is "voted" as most likely. (grin.

And if you're a tax pro under circular 230, that might even constitute
"more than 50% likelihood of being sustained. (another big grin.)

ChEAr$,
Harlan

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Vijay Sharma" wrote:

- quote -

No, it is not. Now, are you going to be really silly and take my word for
it or look in Publication 501 like I told you to the first time?

- quote -

I'll leave that one to the pros.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Mar 13, 10:27 pm, "D. Stussy" <s...[at]bde-arc.ampr.org> wrote:
- quote -

security income is part of gross income in determing whether she
should file a tax return or not and the question about me claiming
100% of expenses and yet reporting only 34% of rental income.

Thanks.

========================================= MODERATOR'S COMMENT:
Please delete all unnecessary material from the prior post when responding.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Vijay Sharma" <vj445[at]hotmail.com> wrote in message
news:4f04cf4f-d856-4218-be18-cd185ee30608[at]e23g2000prf.googlegroups.com...
- quote -

If the first reply is substantially correct, why should the rest of us
bother with it? You have your answer.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

On Mar 11, 10:46 pm, "Phil Marti" <prm20...[at]verizon.net> wrote:
- quote -

I did not get much response on this. So please can some of you reply
to my questions? I would really appreciate.

Thanks.




========================================= MODERATOR'S COMMENT:
Please delete all unnecessary parts of the prior post when responding.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

"Vijay Sharma" wrote:

- quote -

You cannot claim her as a dependent. She has too much gross income,
assuming your numbers are correct. See IRS Publication 501, which also
discusses her filing requirement, if any.

--
Phil Marti
Clarksburg, MD

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I have a personal tax preparation question.

I own a rental home with my mom who lives with us. I file married
filing jointly (with my wife). My mom is 71 and gets less than $300 a
month in social security.

She gets $7,700 in rent and I keep around $4,000 annually because she
put a larger down payment than I did although I pay mortgage and all
the expenses and I manage the rental house - this is all mutually
agreed upon.

I realize that it would be beneficial if I do NOT show her as a
dependent because if I do then she has to file a tax return since the
requirement for filing for a dependent 65 years or over and Single
according to my calculation comes to only around $2,300 of gross
income. She did have some $2,200 in interest money earned as well.

So with rent income of $7,700 and interest income of $2,200, am I
correct that she does NOT have to file a tax return because the
requirement for filing a tax return for over 65 years and Single is
$10,050 if she is not a dependent of mine? I assume her around $3,600
of social security would not factor in, correct?

If I show a small share of rent on my tax return compared to her -
$4,000 to her $7,700 while me picking up all rental expenses, will
that raise questions by the IRS or State?

Thanks in advance for your help.

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >