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Yes, because it will count as your income which I believe you will have to claim on your taxes, and their health care and their taxes. I suggest you talk to an elder attorney before starting this. He will give you suggestions, and can draw up a contract stating that such payment was for this - because if your parents wind up needing to eventually go on Medicaid - it will not be counted in the 5 year look-back requirement. Good luck!!
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