Yes, assisted living expenses can be deductible on Schedule A, but it depends on certain conditions. Here are the key points:
- If you, your spouse, or your dependent is in a nursing home primarily for medical care, then the nursing home cost not compensated for by insurance or otherwise (including meals and lodging) is deductible as a medical expense.
- The individual must be considered chronically ill, meaning a doctor has certified that they cannot perform at least two activities of daily living (ADLs) or require supervision due to cognitive impairment.
- Care Plan: The care must be provided according to a plan of care prescribed by a licensed health care provider
- You can only deduct the total medical expenses that exceed 7.5% of your adjusted gross income (AGI). For example, if your AGI is $50,000, you can only deduct the portion of your medical expenses that exceeds $3,750
- If you pay these expenses for a family member, they’re only deductible if you claim them as a dependent.
- If other people help you pay for this family member’s expenses, you can form a mutual support group.
Here's how to enter your medical expenses in TurboTax:
- Open or continue your return. Be sure you are logged in for link below to work.
- Navigate to the Schedule A section:
[Edited 03/04/2025|6:51 pm, PST] @cornyb4
