![]() ![]() For 2020 returns, the maximum per-person limits are $5,430 for taxpayers 71 or older, $4,350 for taxpayers 61 to 70, $1,630 for individuals who are 51 to 60, $810 for people 41 to 50 and $430 for those 40 and younger. If you purchased a long-term-care insurance policy, a portion of your premium payment qualifies as a medical expense. The cost of meals and lodging at an assisted living facility or a nursing home also counts if you are there mainly for medical care. For 2022 tax returns (those filed in 2023), the standard deduction numbers to beat are: 12,950 for single taxpayers and married individuals filing separate returns. The chronic illness must be certified by a licensed health care practitioner. Anyone in need of long-term care because of dementia or another cognitive impairment is also considered chronically ill if substantial supervision is needed to protect the individual’s health and safety. A person is considered chronically ill when at least two activities of daily living cannot be performed without help for 90 days or more. If that individual is in a home primarily for non-medical reasons. If you, your spouse, or your dependent is in a nursing home primarily for medical care, then the entire nursing home cost (including meals and lodging) is deductible as a medical expense. The long-term care must be medically necessary for a chronically ill person. Yes, in certain instances nursing home expenses are deductible medical expenses. If you or your spouse requires long-term care, you may be able to deduct the unreimbursed cost for in-home care, assisted living and nursing home services as medical expenses.
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