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Deductions & credits
Medical expenses are deductible for Qualifying Relative when you have provided over half of the support.
https://www.irs.gov/publications/p502
The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts.
- Gifts that are not more than the annual exclusion for the calendar year.
- Tuition or medical expenses you pay for someone (the educational and medical exclusions).
- Gifts to your spouse.
- Gifts to a political organization for its use.
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‎December 8, 2021
9:45 AM