Talk of The Villages Florida - View Single Post - IRA to ROTH and taxes on SS
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Old 06-25-2017, 08:31 AM
retiredguy123 retiredguy123 is offline
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One thing to consider is that medical costs are tax deductible if they exceed 10 percent of your income. This includes a large portion of the cost for assisted living and all of the nursing home costs. The assisted living facility will calculate how much of their charges are considered medical costs, which can about 60 percent of the facility charges. So, you can use taxable traditional IRA money to pay these costs, and it will be tax deductible.