Asked by Jason Nunya, Oklahoma City, OK • Wed May 29, 2013
True, or not? My wife works for my Grandmother, as a caregiver and companion, handling her affairs and household. She has for three years. It is full time, legal employment, she is there M-F 8-3. This is half our household income.The law states the family trust my grandparents established is allowed to gift her wages to her/us, as family members, which means it is non-taxable. It's a great deal for everyone, and again, perfectly legal according to both lawyers we've had review it, but we just had a lender tell us they won't count it towards our household income, because it doesn't appear on a W2. We can show the weekly direct deposit records for three years, and prove the income. There is no reason this income shouldn't be counted. Right now, this is keeping us from a house we want and can perfectly well afford, but not if we're counting my salary alone for a family of four. Any advice, or knowledge of situations like this? I know it's unusual, but surely it isn't unique. Thanks in advance.
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