Yes, the TurboTax Deluxe Desktop 2025 can handle CCRC (Continuing Care Retirement Community) prepaid medical deductions. These will be entered under the "Medical Expenses" section of Deductions & Credits in your TurboTax program. Keep in mind that you must itemize deductions on Schedule A, and these expenses are only deductible to the extent they exceed 7.5% of your 2025 Adjusted Gross Income.
In general. as Mike9241 mentions above a percentage of your CRC payments are deductible as medical expenses for both the entrance fee and monthly fees, provided they are non-refundable and used for pre-paid medical expenses. The CCRCs usually will give a statement regarding the amount of the specific deductible percentage.
Often the CCRC calculates the percentage of your fees that will qualify as medical expenses and provides this to the residents. This is usually done using a Form 1099-MISC, which will show the amount (%) that is deductible.
To get to the medical expenses section of TurboTax you can:
- Click on Search at the top right of your TurboTax screen
- Type medical expenses in your search box
- Click on the link Jump to medical expenses
- Follow your TurboTax screens to enter your CCRC payments
Click here for Can I deduct nursing home costs?
Click here for What Medical Expenses are Tax Deductible?
Click here for What are Tax-Deductible Medical Expenses?
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