Is nursing home entrance fee a medical deduction

Forum|Forum|6 years ago
January 22, 2020
2 replies
1 view

I seem to recall up to 125K, but couldn't find it in IRS Pub.

ProSeries Professional

This topic has been closed for replies.

Skylane

Intuit Community Champion

I'd vote yes.... Pub 502 will have the specifics but this may help as well.

https://www.irs.gov/faqs/itemized-deductions-standard-deduction/medical-nursing-home-special-care-expenses/medical-nursing-home-special-care-expenses

If at first you don’t succeed…..find a workaround

K

kgudgel

Level 4

Take a look at the buy-in contract itself. If they are buying into a continuing care retirement community (also called CCRC), then a portion of the buy-in is deductible - the percentage is based on the percentage the COMMUNITY uses for deductible medical expenses.

If they are buying into a Skilled Nursing Facility, then the Purpose of the community is solely to provide medically deductible services, and the buy-in is 100% deductible.

This article is not authoritative, but readable and refers you to the right places (Baker court case and Revenue Ruling 93-72)

https://www.marketwatch.com/story/you-can-deduct-these-retirement-community-fees-as-medical-expenses-2017-10-10

Sign up

Login with SSO

Let's get you signed in

Login with SSO

Scanning file for viruses.

This file cannot be downloaded