Quote:
Originally Posted by jojo
retired guy, I was not aware that nursing home costs were entirely deductible with tax deferred money. Did this provision remain in the new tax bill?
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It is my understanding that the new tax law maintains the medical expense deduction for 2 years for expenses in excess of 7.5 percent of income and in excess of 10 percent of income after 2 years. I believe that nursing home costs are considered medical expenses. Also, a large part of assisted living costs are also deductible, but not at 100 percent.