BlazinAzn38 t1_j1znhyc wrote on December 28, 2022 at 4:24 PM

As far as I'm aware there's no tax advantaged way to gift family members money that's not for education expenses.

Mountebank t1_j1zqzh5 wrote on December 28, 2022 at 4:47 PM

The closest thing would be for OP to claim their parent as a dependent, but that would require the parent to have below a certain level of income and for OP to pay 51% of the parent's total expenses for the year.

BlazinAzn38 t1_j1zrej5 wrote on December 28, 2022 at 4:50 PM

Which would potentially just be more expensive than the parent's being taxed on investment gains.