TomK2023
Expert Alumni

Deductions & credits

No.  You can only take this medical expense one time in the year that it was taken.  Thus, you should choose which year is most advantageous to your tax situation: 2022 or 2023.

 

"You can include in medical expenses a part of a life-care fee or “founder's fee” you pay either monthly or as a lump sum under an agreement with a retirement home. The part of the payment you include is the amount properly allocable to medical care. The agreement must require that you pay a specific fee as a condition for the home's promise to provide lifetime care that includes medical care. You can use a statement from the retirement home to prove the amount properly allocable to medical care. The statement must be based either on the home's prior experience or on information from a comparable home."

 

IRS Pub. 502 - Page 10

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