Question

What tax deductions can children take while caring full-time for elderly parents? Includes cooking, cleaning, medicine management, transport to Dr. appt. Live-in care.

Forum|Forum|1 year ago
February 26, 2025
1 reply
0 views

Sold home in another state and moved to care for elderly parents. Moved into their home and put our things in storage to be live-in care givers.

X

xmasbaby0

Sorry, but there are no tax deductions for that. You get the peace of mind that you are doing your best for your aging parents. You say that you moved into their home----if you are paying for over half their support --including their housing-----and they had only a small income of less than $5050 each, then you might be able to claim them as your dependents for a $500 credit for other dependents for each one of them.

What does "financially support another person" mean?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**