- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
The deductible portion of your entry fee would be entered in the Medical Expenses section of TurboTax, as a "Facility Fee." (As you go through the questions in the Medical Expense section, you'll come to the page for Facility Fees.)
Portions of entrance fees and monthly fees paid by independent living
residents of a CCRC or other ‘lifetime care facility’ are deductible to
the extent that they represent a charge or pre-payment for future
assisted living or skilled nursing care.
**Answers are correct to the best of my ability but do not constitute tax or legal advice.
June 6, 2019
8:35 AM
1,682 Views