Mountebank t1_j1zqzh5 wrote on December 28, 2022 at 4:47 PM

Reply to comment by BlazinAzn38 in What kind of fund can someone set up for their parent? The only contributions would be from my earned income. by Fattywatah

The closest thing would be for OP to claim their parent as a dependent, but that would require the parent to have below a certain level of income and for OP to pay 51% of the parent's total expenses for the year.

BlazinAzn38 t1_j1zrej5 wrote on December 28, 2022 at 4:50 PM

Which would potentially just be more expensive than the parent's being taxed on investment gains.