I have two children that are 23 and 25 years old. I'm having them help pay utility bills. Do I have to report the money they will give me to pay the utility bills on my tax return?

ANSWER

The BIDaWIZ Team's Answer:

No; this financial assistance is exempt from taxation.

The BIDaWIZ Team

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Personal Tax

Reporting Income

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I have two children that are 23 and 25 years old. I'm having them help pay utility bills. Do I have to report the money they will give me to pay the utility bills on my tax return?

The BIDaWIZ Team

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