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Old 01-06-2009, 06:31 PM
Harlan Lunsford
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Default Re: Nursing home expenses

Paul Thomas, CPA wrote:
- quote -

> <Marion1E[at]comcast.net> wrote
> > Nursing home payments
> > My mom (88) went into the nursing home last year due to Alzheimer’s.
> > The cost is almost $4000 a month. How much of these costs can I deduct
> > on her tax return. She does have income from royalties. We live in
> > Albuquerque, NM. Any help is appreciated.

> Assuming she pays it fully - as in no insurance reimbursement, LTC payments,
> etc......all of it should be Schedule A deductions as medical expenses,
> subject to the 7.5% floor as mentioned earlier. Add it in with any other
> medical / insurance expense she incurred.

Also I seem to remember the necessity of having a doctor's statement in
file attesting to the necessity.

ChEAr$,
Harlan Lunsford, EA n LA

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #2  
Old 01-06-2009, 05:30 PM
HW \Skip\ Weldon
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Default Re: Nursing home expenses

On Tue, 6 Jan 2009 08:03:18 EST, "Paul Thomas, CPA"
<paulthomascpapc[at]bellsouth.net> wrote:


- quote -

> Assuming she pays it fully - as in no insurance reimbursement, LTC payments,
> etc......all of it should be Schedule A deductions as medical expenses,
> subject to the 7.5% floor as mentioned earlier. Add it in with any other
> medical / insurance expense she incurred.


This reminds me of my father who, towards the end of his life,
spent some time in a very nice LTC facility.

One of the things he enjoyed saying to visitors was, "I hate being in
this damned place, but let me tell you about my taxes." <grin

-HW "Skip" Weldon
Columbia, SC

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #1  
Old 01-06-2009, 12:03 PM
Paul Thomas, CPA
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Default Re: Nursing home expenses


<Marion1E[at]comcast.net> wrote
- quote -

> Nursing home payments
> My mom (88) went into the nursing home last year due to Alzheimer’s.
> The cost is almost $4000 a month. How much of these costs can I deduct
> on her tax return. She does have income from royalties. We live in
> Albuquerque, NM. Any help is appreciated.




Assuming she pays it fully - as in no insurance reimbursement, LTC payments,
etc......all of it should be Schedule A deductions as medical expenses,
subject to the 7.5% floor as mentioned earlier. Add it in with any other
medical / insurance expense she incurred.





--
Paul A. Thomas, CPA
Watkinsville, Georgia

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 
Old 01-05-2009, 07:25 PM
Bill
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Default Re: Nursing home expenses


Marion1E[at]comcast.net posted:

- quote -

> Nursing home payments
> My mom (88) went into the nursing home last
> year due to Alzheimer's. The cost is almost
> $4000 a month. How much of these costs can
> I deduct on her tax return. She does have
> income from royalties. We live in Albuquerque,
> NM. Any help is appreciated. Marion


Hi, Marion. Given the medical diagnosis, it appears to me that her
nursing home care is fully deductible as a Schedule A item (subject to
the 7.5% of AGI reduction).

Bill

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
  #-1  
Old 01-05-2009, 06:31 PM
Marion1E@comcast.net
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Posts: n/a
Default Nursing home expenses

Nursing home payments
My mom (88) went into the nursing home last year due to Alzheimer’s.
The cost is almost $4000 a month. How much of these costs can I deduct
on her tax return. She does have income from royalties. We live in
Albuquerque, NM. Any help is appreciated.
Marion

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >
 

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expenses, home, nursing
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