Conservator Of Father Income Tax Question

by Margaret
(Merced, CA, USA)

Conservator Of Father Income Tax Question

Conservator Of Father Income Tax Question

I'm the conservator of my father, not for his finances just for the person.

I get $1,500 a month that was court awarded. Is that money taxable?

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Jan 20, 2024
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starstarstarstarstar 		Tax Implications of Conservatorship Income
by: BB

The $1,500 a month you receive as a conservator for your father's personal needs is generally not considered taxable income. It's intended to cover the costs associated with his care and well-being. However, tax laws can be complex and subject to change, so it's advisable to consult with a tax professional to ensure accurate information based on your specific situation.

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Conservatorship

I had to file for conservatorship of my adult child with autism. Can I deduct the costs of getting the conservatorship? (Attorney fees and filing fees).

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Jan 20, 2024
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starstarstarstarstar 		Taxes After Obtaining Conservatorship
by: BB

In most cases, the costs associated with obtaining conservatorship, including attorney fees and filing fees, are not deductible as medical expenses on your federal income tax return. However, tax laws can be complex, and deductions may vary based on individual circumstances. It's recommended to consult with a tax professional for personalized advice.

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