Claiming Elderly Dependent
An IRS exemption for qualified individuals who are not an eligible dependent to another taxpayer, has minimal gross income, and at least half of whose financial support is paid by the claimant.
Claiming Elderly Dependent Articles
Answers to Tax Questions Caregivers Ask Most
Answers to tax questions caregivers ask most: Can I claim my parent as a dependent? Can I claim medical expenses? Do I pay taxes on money my parents give to offset expenses?12 Comments
Can I Claim My Elderly Loved One as a Dependent on My Taxes?
Family caregivers contribute both their time and money to help support those they love. To claim an aging relative as your dependent, there are basic criteria that you, the taxpayer, must meet and criteria that your potential dependent must meet.54 Comments
Start Here Every Year: Essential Tax Steps for Caregivers
As a caregiver, you may need to help your loved one organize their financial documents and prepare and file their taxes. Avoid unnecessary stress by getting this paperwork in order before tax time hits.7 Comments
What Medical Expenses Can Be Written off on Taxes?
In addition to hands-on care, family caregivers often contribute financially to their loved ones’ well-being. If you can claim your care recipient as a dependent, you may be able to write off some of their health care costs and reduce your tax bill, too.17 Comments
Claiming Elderly Dependent Questions
Can your mother be on your insurance if they are dependent on you?6 Answers
My mom is a dependent tax wise and she needs medical coverage. Will my income factor into her eligibilty?2 Answers
Claiming adult son as a dependent?2 Answers
Friend without income lives with me for free. On Medicaid & gets food benefits. Can I claim him as dependent without jeopardizing benefits?5 Answers