Is this consider a source of income?

Question

...if i have a signed letter from my dad that he is going to support me financially up to $10,000 a year??

Answer 1

Yes, it is a source of income, but a signed letter is not enough.  You have to have it notarized, and your father must send it directly to the bank where you are applying for the loan.  You still probably need your father to co-sign the loan so that he becomes directly responsible for that specifically incase you default or miss a payment.  

A letter like this is probably not going to be useful in any situation but a bank loan.  It is not usable for general credit purposes.

Answer 2

Not likely, unless he is legally obligated by court order.

Answer 3

in reality it is a source of income...BUT...technically, it is not a source of income on paper...and it does not have to be reported...Your dad has already paid taxes on his money....And, they cannot tax twice if your dad were to pay your bills directly...but theyll never find out about anything...because if they ask, just tell them that your dad pays your bills directly....whose gonna know?  But, something like that....they dont tax at all...and does not have to be reported....