- 7 - principal place of abode, as a member of such household, of either (1) a son or a daughter or (2) any other person who is a dependent of the taxpayer, if the taxpayer is entitled to a dependency exemption for the taxable year for such person under section 151. See sec. 2(b). The cost of maintaining a household is the sum of the expenses incurred for the mutual benefit of the occupants of the household by reason of its operation as the principal place of abode of such occupants for the taxable year. See sec. 1.2-2(d), Income Tax Regs. Such expenses include property taxes, mortgage interest, rent, utility charges, upkeep and repairs, property insurance, and food consumed on the premises; however, such expenses do not include the cost of clothing, education, medical treatment, vacations, life insurance, and transportation. See id. During virtually all of 1995, petitioner maintained as her home a household at the West Euclid Avenue address that constituted for more than one-half of that year the principal place of abode of her children Henry and Ceola. During this period, petitioner received no financial assistance from Mr. Corley. Although petitioner received some financial assistance from her grandmother, petitioner was the person principally responsible for maintaining the household at the West Euclid Avenue address.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011