Assisted Living Costs as a Tax Deduction
Individuals that live in assisted living facilities may able to deduct some of their expenses from their taxes. Costs for medical expenses, including some long-term care expenses, that make up more than 10 percent of your adjusted gross income (or 7.5 percent--through 2016--for taxpayers over 65) are tax deductible. Who Qualifies? To qualify for the [...]