turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

drush
New Member

Assisted Living Facility included in medical facility fees

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

6 Replies

Assisted Living Facility included in medical facility fees

Yes, you may include it.

This, from IRS Publication 502:

Lifetime Care—Advance Payments

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.

rfremon
New Member

Assisted Living Facility included in medical facility fees

where (which form and line) is used to report this "founder's fee"?

Assisted Living Facility included in medical facility fees

are you using TT Desktop or Online, and which version are you using, Deluxe, Premiere, or Home & Business?

Assisted Living Facility included in medical facility fees

Ours say "level of care" in their statements and it also includes "rent" separately.

AnnetteB6
Expert Alumni

Assisted Living Facility included in medical facility fees

Please clarify your question so that someone may be able to give you some assistance.

 

@jtp49

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Assisted Living Facility included in medical facility fees

I wasn't asking a question, but replying to a question.  My answer is based on our statements from assisted living care.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies