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Forum
-> Household Management
-> Finances
amother
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 Tue, Aug 19 2014, 10:39 pm
If someone gives you money regularly but as a gift - I.e. a relative who wants to make your life easier, not a scholarship or stipend or job or anything - do you need to report it for
taxes?
food stamps?
medicaid?
We're currently in a bottom tax bracket, getting food stamps and medicaid, but completely above board - we're there because of life circumstances, we are not trying to cheat the system or anything. We are truly struggling. A relative suggested they *might* want to help us with a few hundred dollars a month or so, so I can have it a bit easier in some ways. I'm just concerned that this could affect our benefits because much as we could use the extra money, it would not be worth the cost if we get disqualified or worse accused of fraud for having too much money while getting benefits.
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amother
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Wed, Aug 20 2014, 12:02 am
If its a gift it shouldn't mess you up I believe, however, maybe they can help you by paying your cell phone bill directly or your car or some other bill straight to who its due so you don't have this issue
Hugs
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Tova
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Wed, Aug 20 2014, 12:08 am
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Gifts are taxable to the donor, not the recipient, for tax purposes (there is an exemption from tax that adjusts with inflation each year). I cannot answer about the government programs.
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