The Form 1040 for 2022 income taxes
Medical Costs

Seniors face distinctive issues concerning earnings taxes

My 90-year-old mom’s well being bought to the purpose the place she was now not ambulatory and couldn’t deal with herself. An orthopedic surgeon informed her she would want assisted residing. If a physician declares it, is the price of assisted residing deductible on an earnings tax return?  S.P., snail mail

The above state of affairs and query lead us to level out among the distinctive points that may problem taxpayers as they age. This week’s column will give attention to earnings tax ramifications for seniors and, in some conditions, their youngsters.

Tax Discuss:Excessive deductible well being plans supply workers some advantages and some burdens

Here is a guidelines of some earnings tax gadgets seniors (and their youngsters) needs to be contemplating: 

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