Hello Ken!
Thanks for reaching out today with this excellent question.
If you or your loved one lives in an assisted living community, part or all of your assisted living costs may qualify for the medical expense tax deduction. According to the IRS, any qualifying medical expenses that make up more than 7.5% of an individual's adjusted gross income can be deducted from taxes.
The IRS has a publication on the various items that qualify as well:
https://www.irs.gov/publications/p502
Also, there is an expense eligibility checker:
https://www.irs.gov/help/ita/can-i-deduct-my-medical-and-dental-expenses
I hope this helps, as these can be quite major expenses and can result in very high deductions, as long as they exceed 7.5% of your Adjusted Gross Income. I'd recommend keeping good records of the amounts paid to report on your 2021 taxes.
-Dennis
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