I am 91 and live with my daughter full time. I pay a caregiver to stay with me while my daughter is at work. Can this money be used as a deduction on my taxes?

ANSWER

Expert Thomas Graham iii's Answer:

It is quite possible. If you are eligible then the amount that will be deductible will be the extent of your medical bills that exceed 7.5% of your AGI.  This amount will be eligible to be included in your itemized deductions. 

To qualify, your expenses must related to amounts paid for “qualified long-term care services.”  Without knowing your exact circumstances I can only lead you in the right direction.  IRS Publication 502 gives detailed information about what is considered “qualified long-term care services” and what you need to qualify.

Thomas Graham iii, CPA, CFE

Oklahoma

7 yrs experience

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78 Ans.