Tax Deductibility of Assisted Living | Senior Living Residences
just a guideline, but I deduct about 60% as my mom has alzheimers/dementia with a medical diagnosis. . and I used her IRA to pay for her first two years +. Now she pays no taxes, but I am paying with assets as the interest is not enough. The monthly fee started in the $8K range, now she is in the $13K range as rates go up between 5-7 percent per year, and this was the cheapest facility in the area, close to me and good facilities.
If you think she is going to live 10 years, you will need at least $1.5M today and invest it with low risk bonds / very small portion in preferred common shares with high dividends. . and pay for as much of the monthly fee with dividends to maintain assets for as long as possible.
good luck