Decatur Illinois Senior Assisted Living

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If your senior loved one is in Decatur Illinois Senior Assisted Living or receiving senior care services, there may be a chance that they can get a tax deduction. If you or your senior loved one is interested in receiving tax reductions, it is important to know if they qualify and what steps to take.

Under the correct circumstances, tax deductions can be for caregivers or those receiving assisted living services. You will need the proper documentation in order to qualify for these tax deductions. You are able to deduct the cost of medical expenses if they exceed 7.5% of your adjusted gross income. You can also receive deductions for long-term care services and non-medical costs from having a chronic condition.

If your senior loved one has a chronic condition, the IRS allows them to receive a tax deduction. Not all chronic conditions will qualify, therefore the IRS has compiled a description of what chronic conditions qualify for a tax deduction. A chronic condition, according to the IRS, defined by a person who is unable to perform at least two activities of daily living without substantial assistance from another ...
... person for at least 90 days due to a loss of functional capacity. The activities of daily living include: eating, toileting, transferring, bathing, dressing, and incontinence. A chronically ill person must also require substantial supervision to be protected from threats to health and safety due to severe cognitive impairments. For more information about the IRS’s policy on a what is defined as a chronic illness, contact the IRS customer service department.

You or your senior loved one must obtain a letter from a licensed healthcare professional in order to qualify for the deduction for long-term care services and non-medical expenses. The healthcare professional must be a physician or registered nurse, or can be a licensed social worker. The letter from the healthcare professional does not have to elaborate of the plan of care, but it must explain that the senior meets one or both of the conditions and has the detail of the care plan to address the conditions. Long-term care costs will be consistent with the services of the plan of care. If you are a caregiver and you receive the letter from your senior loved one’s doctor, make sure that the letter describes the medical condition and the assistance needed. You should always consider getting a new and updated letter each year in order to receive the most accurate tax deductions.

You will want to speak with your tax advisor regarding any questions you may have before you file your taxes. Ask your tax professional if you meet the IRS criteria for a tax deduction, and any other potential senior tax benefits. Make sure to talk to your doctor and get a letter that describes the care needed for your senior loved one. Follow the tax returns just as you would a standard tax return.