If your parents move to a continuing care retirement community, they may be able to deduct part of the entrance and monthly fees as medical expenses. Make sure your parents keep records of these expenses and ask their tax adviser to look into what the IRS will allow them to deduct.
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Continuing Care Tax Benefit
By Caring.com Community Member, Tim
- ID:
- 10691
- First Published:
- 24-Mar-2008
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