He is the same age as she is and is unemployed.
I asked her about it and all she tells me is, I dont mind helping him.
I know she is hurting financially because she pays the rent, groceries, gas, etc.
Does your balance sheet need a reset? Try thesesmart ways to organize your finances.
And what other deductions can she claim?
-L.
Dear L.,
Clearly, taxes are the least of your daughters problems.
But unfortunately, it doesnt sound like your daughter can legally claim her boyfriend on her 2022 tax return.
(No, they dont have to actually be a relative to meet the criteria).
Save money on the bills!
These can help you cut out unnecessary costs.
If your daughters boyfriend has only lived with her for seven months, he wouldnt meet the first criteria.
Its also doubtful that your daughter would qualify for other deductions.
The Tax Cuts and Jobs Act of 2017 nearly doubled the standard deduction.
For 2022, the standard deduction is $12,950.
For the overwhelming majority of taxpayers, particularly renters, itemizing deductions doesnt make sense.
Any deductions they qualify for will add up to far less than $12,950.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
I suspect youre trying to muster whatever advice you’re free to to fix this financial trainwreck.
Now its time to step back.
She knows you dont approve of her boyfriend.
Focus on maintaining a good relationship with your daughter.
That means youll need to be cordial to her boyfriend.
Sometimes these situations have a way of working themselves out.
Living with someone who has zero ambition gets old after a while.
Even though you assume your daughter is struggling financially, it doesnt sound like shes asking you for money.
But should she turn to you at some point for financial help, dont give her money.
Be firm that if she needs assistance with bills, that will need to come from her boyfriend.
Your frustration is understandable.
But having the freedom to make mistakes is what forces us to grow up.
Dont offer financial or relationship advice unless your daughter asks for it.
But do say a silent prayer that this relationship will be over before tax season.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
When you log into your bank account, how do your savings look?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
