Tax Deductions for Assisted Living Expenses Assisted living expenses can be a financial burden, especially for seniors who are living on a fixed income. Fortunately, the IRS offers tax deductions for those who are paying for assisted living expenses. In this article, we will provide a comprehensive guide to help you understand the tax deductions that are available for assisted living expenses. Medical Expense Deduction The most commonly known tax deduction for assisted living expenses is the medical expense deduction. This deduction is available to taxpayers who itemize their deductions on their tax returns. To be eligible, the assisted living expenses must be necessary and considered medical expenses. This means that expenses must be incurred to diagnose, treat, or prevent a medical condition. The IRS has strict rules on what constitutes a medical expense, but generally, any expenses incurred for the care of an elderly individual that would normally be deductible if incurred for the care of any other individual are considered to be deductible medical expenses. This includes expenses for nursing homes, assisted living facilities, and home health care. Our Belamour Care team is here to offer guidance, answer questions, and help you take the next step toward your goals. We believe in the power of community and the importance of collaboration, and we're excited to work with you. So don't hesitate, make the call today and let's start this journey together.