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Additional Details
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Stacie V | Can my mom give me money, and write it off as a charitable contribution on her taxes? |
I realize this question sounds stupid....but, I was told by a doctor's office that my Mom could give me money to pay for a surgery, that I cannot afford ($12,500, actually) and she would be able to write it off on her taxes as a "charitable contribution."
She said that she called their tax person and he suggested it. I asked her to double check and she did and that is what the tax guy told her (i dont know if it was their accountant or tax attorney??)
Anyway, I need to know if that is true. I dont know if she would pay the doctors office directly or me---or if it would make a bit of difference.
Does this even seem possible?
Thank you.
Additional Details
Wow! That was a lot of answers QUICK! Thank you so much.
Let me add some details....
**it was the doctor's office tax person who said this, not my moms.
**I am a grown up (kinda) and do not live with her, so I am not a dependant.
**It is not cosmetic surgery--but Lap Band surgery that my insurance will not cover. :(
**I wonder if the doctor's office was really talkin about whatever it was that would require my mom paying the money directly to the hospital? Not a charitable donation--but, still makin it tax free???
**my mom and myself BOTH thought this sounded VERY wrong, which is why I figured I would ask here.
**THANK YOU SOO MUCH FOR YOUR ADVICE!!!!! |
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AK
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The answer is no. In order to get a charitable contribution deduction, the donation must be going to a certified organization approved by the IRS (or called a 501(c) organization).
If it is possible, everyone will just donate their salaries and earnings to a family member and pays no tax.
Can your mother claim you as a dependent on her tax return? She may be able to deduct it as medical expense (itemized deductions) paid on behalf of a dependent if the expense is not incurred due to cosmetic reasons. |
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maxmom
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She can give you up to $12,000 a year as a gift if you are an adult child.
It is a way of giving away money without paying inheritance taxes.
It is not written off as a charity, though.
It is a gift. |
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Judy1
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NO it's not a charitable contribution - a person isn't a registered charity.
If you are her dependent, she could deduct the amount she pays for your medical bills as a medical expense, but not as a charitable contribution. If you are NOT her dependent, then no, she can't deduct it. But if she gives you the money to pay the bill, then YOU could deduct it if you aren't a dependent. |
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Spock (rhp)
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not true
gifts to a specific person, or on their behalf, do not qualify as charitable contributions -- esp. if the persons are related.
while a charitable organization can be set up whose purpose is to fund medical care for a specific person, this must be done with great care (esp. for a relative) in order to preserve the tax deduction aspect. |
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fenderop
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No, your mom needs to get a new tax guy! Seriously. Unless she wants to go to jail. You are not a charity.
She can deduct medical expenses of Dependants if it exceeds a certain amount... this has nothing to do with a charitable deduction though.
[edit of answer based on the asker's new points] - You are an adult.. over 18 I am guessing? We need your age. Are you a college student or a full time student? If you answered yes to over 18 and no to a student... then you can't be a dependent. This being the case, she can not pay for your medical expenses and deduct them.
There are a lot of other questions that need to be answered to check and see if she can deduct medical expenses paid to you... but based on the info you have given there is no way this could happen because you are not a dependent. My suggestion is to talk to a tax accountant and see what he says. 1-on-1 chats are helpful in this way. |
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wartz
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No. Not in any way. |
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Link Correon
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Is this surgery elective? If it is, then it's not a charity. If it's necessary medical care, then it can possibly be deducted as medical expenses. I don't know if there are tax breaks for that other than the flexible spending account, where you set up the amount the previous year and then spend it the next year. |
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just me
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If you are her dependent she could use the medical expense as an itemized deduction. She could deduct the amount left after substacting 2% of her AGI.
This is assuming the medical expense was for qualified medical bills. |
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mooshie
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The IRS allows your mom to pay for anybody's medical expenses tax free, provided she pays the hospital directly. Totally tax free, but no "charitable tax break" involved. She would need to file a specific form with her taxes for that year just documenting this. Talk to your accountant about it. If you don't have an accountant, just go into any grocery store where H&R Block is set up (good time of year to do it--they're everywhere) and they can help you. |
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