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snovruzov
New Member

Elderly parent's related expenses

Where to show my expenses for elderly parents who are qualify as my dependents.
1 Best answer

Accepted Solutions
JaimeG
New Member

Elderly parent's related expenses

If you parents qualify as your dependents you already receive an exemption of $4050.00 for each of them. To receive this exemption simple place their information (Names and Social Security Numbers) in the dependents section of your Personal Info in TurboTax. 
You are also able to claim the Dependent Care Credit. This credit allows you to deduct a certain amount of Caregiver expenses. Another available option, if your Itemize your Deductions, are Medical Expenses. If pay for your Parent's Medical Expenses, you can place these as Itemized Deductions (Schedule A) in your Tax Return. Please remember that Schedule A is the counterpart of the Standard Deduction. If the sum of Itemized Deductions in Schedule A does not exceed the amount of your Standard Deduction, Schedule A will not be beneficial to your tax return.

For more information on deducting Medical Expenses and the Dependent Care Credit please view the FAQs below:

https://ttlc.intuit.com/replies/3301457

https://ttlc.intuit.com/replies/3301418

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9 Replies
JaimeG
New Member

Elderly parent's related expenses

What type of expenses are you looking to deduct?
snovruzov
New Member

Elderly parent's related expenses

Money. I am every month sending money to retired parents (their income less than $4000. Just FYI.
JaimeG
New Member

Elderly parent's related expenses

If you parents qualify as your dependents you already receive an exemption of $4050.00 for each of them. To receive this exemption simple place their information (Names and Social Security Numbers) in the dependents section of your Personal Info in TurboTax. 
You are also able to claim the Dependent Care Credit. This credit allows you to deduct a certain amount of Caregiver expenses. Another available option, if your Itemize your Deductions, are Medical Expenses. If pay for your Parent's Medical Expenses, you can place these as Itemized Deductions (Schedule A) in your Tax Return. Please remember that Schedule A is the counterpart of the Standard Deduction. If the sum of Itemized Deductions in Schedule A does not exceed the amount of your Standard Deduction, Schedule A will not be beneficial to your tax return.

For more information on deducting Medical Expenses and the Dependent Care Credit please view the FAQs below:

https://ttlc.intuit.com/replies/3301457

https://ttlc.intuit.com/replies/3301418

TaxHead
Returning Member

Elderly parent's related expenses

I have the same issue. The dependent is not showing in the dropdown list of dependents to apply dependent care expenses. I did list my parent as the dependent earning $0 income

Elderly parent's related expenses

if your elderly parents (or other older relatives) qualify as your dependents, then there is a $500 tax credit applied to your return.  That is it.   You can not deduct dependent care expenses on your return. 

 

TaxHead
Returning Member

Elderly parent's related expenses

Not even for hiring a care giver to look after a parent who cannot self care? Mom doesn't have any insurance.

MaryK4
Expert Alumni

Elderly parent's related expenses

Your parent could qualify for the Child and Dependent Care if you can claim them as a dependent on your return; he/she cannot take care of himself or herself; and has lived in your home at least half the year.  See Steps to Claiming an Elderly Parent as a Dependent

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Elderly parent's related expenses

Pay for mom to get at home care three times

Elderly parent's related expenses


@cornelius1 wrote:

Pay for mom to get at home care three times


If you pay medical expenses for a dependent, including a parent, you can list those with your medical expenses.  You can also deduct the medical expenses of a parent who is not your dependent, as long as you paid more than half their total living expenses.

 

Medical expenses are described here.

https://www.irs.gov/forms-pubs/about-publication-502

 

Importantly, home care may not always be "medical" expenses.  Nursing services are deductible.  They don't have to be provided by a nurse but must be the kind of services usually performed by nurses, such as assistance with eating, dressing, bathing, using the toilet, or providing medication, wound care, and so on.  Costs for companionship, laundry, cleaning and meal preparation are not medical costs, and if the home care aides provide these services, you need to determine the percentage of their time they perform medical services and only deduct that percentage of the cost.

 

If your mother has a chronic illness or a cognitive impairment, you can sometimes deduct the entire cost of a home care aide as medical, if you follow certain rules.  It depends on what care your mother needed.  

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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