Hi! This is my first year filling it out for my brother. Do I need to provide receipts? Out of 13,000, I paid close to 6,000 in his reduced housing and food costs. I saved about 4,000 in his ABLE account. I have receipts for all of that. But the other $3,000 for random spending money for him, driving him around town, getting him food, clothes, shoes, fun money, etc ... I dont think i have recipts for that. And i notice Chase takes about $5 per month in fees... Do they want me to provide the receipts for that other $3k?
Hi! There is no request for receipts when completing the form. However, you should definitely hold on to them for tax purposes! The IRS can choose to do audits as they see fit, so I'd suggest keeping digital copies in a file somewhere. Cloud storage like a Google folder would be great!
Thank you for video, this is my first time getting the form for my son and this was very helpful.
I'm glad it was helpful!
Hi! This is my first year filling it out for my brother. Do I need to provide receipts? Out of 13,000, I paid close to 6,000 in his reduced housing and food costs. I saved about 4,000 in his ABLE account. I have receipts for all of that.
But the other $3,000 for random spending money for him, driving him around town, getting him food, clothes, shoes, fun money, etc ... I dont think i have recipts for that. And i notice Chase takes about $5 per month in fees... Do they want me to provide the receipts for that other $3k?
Hi! There is no request for receipts when completing the form. However, you should definitely hold on to them for tax purposes! The IRS can choose to do audits as they see fit, so I'd suggest keeping digital copies in a file somewhere. Cloud storage like a Google folder would be great!