Скачать или смотреть Siblings Sharing Costs for Mom? Who Gets to Claim the Parent Deduction

You and your siblings are pitching in to support an aging parent. Since no single person pays more than 50% of the cost, you assume nobody can claim them as a dependent. You are wrong. The IRS has a specific protocol called the "Multiple Support Agreement" that allows the family to "assign" the tax break to one person. However, if you do not have a signed Form 2120 from every other eligible sibling in your files, you are committing tax fraud.

As The Finance Observer, I’ve performed a forensic review of IRC Section 152(d)(3) and the specific "10% Threshold" required to unlock this hidden deduction. In this video, we dissect the "Fair Market Value" trap of the spare bedroom, why a "Casual Understanding" between brothers will fail an audit, and the "Double Torpedo" that hits retirees who claim this deduction incorrectly.

FORENSIC BREAKDOWN:

0:00 The "Sibling Split": Why families lose thousands by not coordinating

0:26 The Law: The "Multiple Support Agreement" (How to pool your money to win)

0:52 The Trap: The "Collective 50%" vs. "Individual 10%" Rule

01:28 The Evidence: Form 2120 (The "Waiver" your siblings must sign)

02:19 The "Paper Trail" Audit: Why bank statements beat "Fairness" every time

02:44 The Definition: "Support" includes Fair Rental Value (The Hidden Math)

03:14 The "Mom Pays" Trap: If she pays 51% of her own bills, the game is over

04:15 The "Double Torpedo": How a denied dependent claim spikes your AGI & Medicare Premiums

04:50 The Strategy: "Rotation" (Taking Turns) vs. "Optimization" (Highest Earner)

05:32 The Checklist: The 5-Step Protocol to make your claim audit-proof

DISCLAIMER: I am The Finance Observer. This content is for educational purposes only. A Multiple Support Agreement requires that no one person contributed more than half of the support, but the group combined contributed more than half. Every person who contributed more than 10% must sign Form 2120 agreeing NOT to claim the dependent for that year. Always consult a qualified CPA to verify your eligibility.