My parents CPA had told my Dad that the $12k per month he was paying for my Mom was not tax deductible. But the around the clock caregivers that my Dad hired for himself at home, he could do some deduction.
This was 6 years ago, and IRA taxes are in constant movement, thus difficult to say what someone could deduct years ago, is still deductible today.
Save all your receipts for this facility, the medication, the doctor appointment co-pays - even parking tabs for the drs appointments, anything that has to do with medical. Take all the receipts to your CPA - they can make the determination after seeing the amount you have paid and the classification that it can be put in. Blessings.
No one here can give a definite answer because tax laws vary by state. If you are currently filing yourself, you may want to consider hiring a CPA tax specialist at least for one year. Any accountant can help you with your taxes, but I do not recommend a basic tax service because they are not always up on the latest tax law changes especially as they apply to elders. I suggest that you ask before you hire if they are experienced in elder taxes as it applies to living in facilities. It may make a difference if you file jointly or separately and might even be time for a change. Hopefully someone here can give you insight as to questions to ask a CPA, but even if someone here has the same issue they may not have gotten the best advice for how to handle your issue.
Yes, but you have to pay a pretty enormous amount for it to qualify. Your CPA can tell you exactly how much will qualify you and so will the IRS if you call. You will be on waiting for a long long long time, but they are very very helpful when once you get them. For instance, my brother paid 5,000 approximately for his room at ALF. This was not deductible because he was on level one of care, basically self caring. But had he been on level four or in memory care, paying for a high level of professional assistance care, and even supplies, he would have qualified for a writeoff. If you don't have a CPA one will be glad to see you for a fee for an hour of time for questions.
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This was 6 years ago, and IRA taxes are in constant movement, thus difficult to say what someone could deduct years ago, is still deductible today.
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