household income

[larryg]

Hi,
I'm trying to find out what income I should count for my household. My adult daughter is living with me. She works and pays all of her own expenses and buys her own groceries, but she does not pay rent or utilities. Will I have to report her income as part of the household.
Thanks

[magyar123]

Short answer - yes. It's total household income.

[Hopefull1983]

I have roomates who contribute to the rent. I'm not including their income...I'm just listing what I pay each month and what I make each month.

[larryg]

If she paid rent --- the rent would be income to me but how would that effect my expenses? Would half of the utilities be considered her's?

[soleprop]

my opinion: if your daughter does not contribute to the financial picture in any way, you should not have to count her income as it is money you do not have access to. i'd do some digging on this one though; either online, nolo book, or asking an attorney.

[larryg]

Thanks for the replys. There are so many questions and I can't see an attorney for 2 weeks. I'm driving myself crazy. I own a LLC. Most of my debt is on personal credit cards but one is a business card. I just changed banks and cc processing companies in preparation for bankruptcy and now the new bank has bought out the old bank and will own my debt and still have access to my new bank account and cc processing. I signed a 1 yr contract with the new bank so now i'm stuck.
My business is growinig and I thought it was going to be okay but sales dropped way down in oct and i'm afraid of what nov and dec will bring. I made oct payments but I wont have any cushion for nov & dec.
I had thought if things got bad I would stop paying the cc and save a little to pay the att but now I can't stop making payments without one of them being able to zap my bank account. I can't file until Feb because last Jan I paid off a friend that helped me get my business started. Of course I used a low interest rate check to payoff the debt so now I'm worried about fraud also.
Sorry for rambling on but I just needed to vent. If anyone has any suggestions or can tell me about their experiences I sure do appreciate it.
thanks

[2Bshinyandnew]

My guess is that if she is not paying rent and you are not supporting her, it would be a wash. You would not need to claim her income as household income, nor could you claim her as a dependent when calculating your household size.

She's visiting, for a loooong time

Of course, your attorney will have better than a guess.