Income tax write off

Elshack

My niece's husband is a CPA. For the first time I was able to write off my DH's memory care rent for the 4 and 1/2 mo he was in Memory care in 2022. Making out the long form you can also deduct medical items like Depends, RX's etc. This gave me a much larger federal return.

Beachfan

This is good information to know, but here’s a cautionary tale.  Whether or not you have long term care expenses that are deductible, check your tax return carefully before filing.  I don’t know much about taxes and rely on the expertise of a professional tax preparer at a long established accounting firm.  This year, I submitted out of pocket medical expenses of close to 70K with supporting documentation from the MCF as well as the provider of incontinence supplies.  My tax preparer was “new” to me, doing my taxes for the first time.  Lo and behold, I discovered he merely referred to last years  return, noted that I had no itemized deductions and so did not itemize anything this year.  Instead of owing $1094.00 to the IRS, I am due a refund of over $6200.00. Needless to say, I am looking for another firm for next years tax preparation. Nothing about this hateful disease is easy!!!

danapuppy

The facility will provide a letter that tells you how much of the cost may be claimed as a medical expense on Schedule A. In addition to that cost, often overlook expenses include ALL MEDICALLY NECESSARY care and hygiene items, supplements (have the physician prescribe vitamins etc), milage/travel to/from health-care providers, lodging, health insurance (including Medicare premiums), long-term care premiums, adult daycare, and security monitoring. Ask yourself, "did I incur this cost because of Alzhiemer's? " If you can honestly answer, yes. Include it on Schedule A. Let the IRS argue it is nondeductible.

Look at IRS Publication 502.