Can someone show cash support as their income in a tax return?
Yes. Normally this would be treated as a gift. However, there are some instances where you could be expecting certain services from your parents and can issue a 1099-MISC to them (or one of them) showing the payments made. Your mother may be cleaning the house and you can report her as a domestic employee. Your father may be mowing the grass and you can report his earnings for that service.Each of these designates the income to them as taxable and reportable.However, it does NOT mean that you can deduct the amounts. In order for that to occur, you would have to have a business and your parents would have to be providing essential services to the business.
Medical Deductions.. I am confused (first time to do taxes)?
Unless your medical expenses add up to over 7.5 percent of your adjusted gross income, and unless your total deductions are more than the standard deduction, then you don't need to bother with any of those questions. The amount you paid for medical expenses would be the AMOUNT. YOU. PAID, yes. Your medical insurance premiums are the amount you pay for your medical insurance. It should be listed on your paystub.
Can I deduct my girlfriend's medical expenses that I paid for her?
Flyby is incorrect. If you CAN claim her, then it is illegal for her to claim herself. Whether she wishes to claim herself has no effect on whether you can, because she is not allowed to claim herself if you are otherwise qualified to claim her. 1. If she has enough income to be required to file a return, then she must do so whether or not you claim her. Generally speaking, a person with less than $3400 of income whose income is ALL from employment is not required to file. However, a person who CAN be claimed as a dependent by another (whether or not the person actually is claimed) and has more than a few hundred dollars in UNearned income (such as bank interest) is usually required to file. 2. You can take an itemized tax deduction on Schedule A for the amount by which the bills you paid for yourself and your dependents exceeds the percentage of your AGI, in other words, the amount of the bills MINUS the percentage of your AGI. You cannot deduct the entire amount of the bills. Also, you cannot include any payments for which you were later reimbursed by an FSA, MSA, HSA, etc., or by insurance.
Incurred medical expenses?
Ruby incurred substantial medical expenses ($32,000) and real estate taxes on her residence ($8000). Because she did not have the funds to pay these expenses, she asked her mother. Susan to do so.Susan made the payment directly to Buby's crditors. On her Federal income tax return,Ruby deducted $24,000($32,000-%75 of $100,000AGI) of medical expence and $8000 of real estate taxes. The IRS disallowed these itimized deductions on Ruby's tax return.According to its possition, because Ruby did not actually pay these expenses, she is not entitled to any diductions. Evaluate the positons taken by Ruby and IRS.
Can I add my 18yo niece to my medical insurance?
Misty, You should be able to add her as a dependent. You may need to show legal papers. Depends on your carrier. Go to "Coverageforall" There are State Health coverage "Matrix." You may be able to find coverage for her, if your carrier says, "no!" Stay away from College Supplied Coverage, it is usually worthless. •Look at HSA Coverage (Vanguard Investments) You have a high deductible but are covered for catastrophic losses. tax advantages. Read: The Insurance Maze. Get: Publication 502 IRS.gov (medical & dental deduction/credits) Tell the student to locate "Urgent Care" & Nurse-n-a-box (at Pharmacies) instead of going to ER for minor problems ( major problems,yes) The school has a medical clinic. Finally, if all else fails, get a Care Credit Card. They allow 6 months to 24 months no interest. To pay bill. (GE Retail Bank-interest is high if you don't pay it off timely, but better than nothing) make sure Doctor or Hospital takes the card. Medical & dental services. If there is a large medical bill, consider using Medical Billing Advocates 540.904.5872 to come up with a "fair & reasonable charge." Read: The Total Money Makeover by Dave Ramsay. ps: have her get a part-time job with employers who offer medical benefits ( Starbucks, REI, UPS, Target,Macy's,Whole Foods Market, etc. Hope this is helpful :-})
I kept LTA and medical allowances under ITR but I didn't submit any bills for claiming can I get the amount back without submitting any bills?
The prime responsibility of deduction of tds is upon the employer and the employer is obliged to give all the deductions which as per law the employee is entitled to. If the employer fails to give credit for any deduction which the employee is entitled to as per law than the employee can claim the deduction by filing his return of income and claiming deduction which the employer has failed to give. In you case from the query I presume that you have claimed deduction towards LTA and medical allowance in you ITR but you have not submitted any bills in support of that. In online mode of submission of ITR you are not supposed to submit any bills in support of your claim. It is possible that you ITR is assessed as per return filed (known as assessment u/s 143(1)) in which case you will receive the refund. If however, you case is selected for scrutiny than you may be required to furnish proof of you claims of deduction towards LTA and medical allowance or any other claim.