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Deductions & credits
@rjson the 2nd comment, it states the adult child may be eligible for a tax DEDUCTION; it never states a tax CREDIT. While vaguely written, if the assisted living parent can be claimed as a dependent of their adult child's tax return, that adult child can deduct all those medical expenses (subject to the 7.5% limit). I suspect that is what it means, but could have been written more clearly.
‎June 16, 2024
12:01 PM