Legal Question in Tax Law in Colorado

Re: Is Parental Support of the Elderly a tax liability?

Under our current laws, you can gift up to $12,000 to any one individual each calendar year without incurring a federal gift tax (or having to file a federal gift tax return). Thus, both you and your siblings could each gift that amount to your mother. Also, if you or any of your siblings are married, then the spouse can gift an additional $12,000 to your mother each year. You should keep in mind that the $12,000 is the total for all gifts to your mother during the year (so if you gift the full amount, then you don't want to send your mother a $100 gift certificate for Christmas, etc.).

As far as government benefits, you should first determine what benefits she is now receiving and/or what she hopes to receive in the future. There are some rules that you will want to consider here, but they are too complicated to cover in one post.

I am not aware of any online resource that might be useful. I suggest you contact your advisors to discuss your particular circumstace.

Hope that helped.