Carl, The retirement community and my age give me a number of deductions to itemize my deductions. The monthly fee portion to live in the community (housing and amenities) that I can deduct is about $18,000 a year for independent living. If I were in assisted living and without long term care insurance, my annual cost may be around $130,000 a year. More, for skilled nursing. My insurance premiums and Medicare Part B are about $6,000 a year (this does not include long term care insurance). Then there are drugs. $$$$$. And then there are dental, eye care and hearing which are not covered by Medicare. There are plenty of out-of-pocket other medical costs and transportation. I do give to charities. And, well, there is more.
