Can I deduct expenses for my spouse who is in a nursing home
If you’re paying for expenses for your spouse in an adult nursing home, you more than likely are going to be able to deduct those expenses. Now, because you’re married, your tax advisor will help you understand that, in all likelihood, you’re going to be filing a joint return, a married-filing-jointly. You’re also going to count what income there is that’s being brought in and the expenses, and in all likelihood, all those expenses, especially for medical-type care, are going to be deductible as medical expenses over a certain percentage of your adjusted gross income. Many families, as they age, are no longer in the workforce. They are dependent on pensions and social security, and they may not have income sufficient to even file a 1040 or a 1048 tax return. It’s important to get wise counsel in that regard so that you can understand what forms you need to file, and in fact even if you had some income in excess of a pension or social security or retirement, you may have deductions that keep you from having to pay any federal income tax.
Categories: Other Law Areas, Tax Law