Are nursing home expenses tax deductible?

Nursing home expenses may be tax deductible as a medical expense. To qualify for the deduction, the expenses must be paid for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for the purpose of affecting any structure or function of the body. The expenses must also be necessary and reasonable.

Nursing home expenses that may be tax deductible include:

* The cost of room and board

* Nursing care

* Medical care

* Physical therapy

* Occupational therapy

* Speech therapy

* Social work

* Nutritional counseling

* Transportation to and from medical appointments

In order to claim the deduction, you must itemize your deductions on your tax return. You must also keep receipts for all of your nursing home expenses.

The amount of your deduction for nursing home expenses is limited to the amount of your unreimbursed medical expenses that exceed 7.5% of your adjusted gross income (AGI). For example, if your AGI is $50,000 and you have $10,000 in unreimbursed medical expenses, your deduction for nursing home expenses would be limited to $2,500 ($10,000 - 7.5% of $50,000).

If you have any questions about whether or not your nursing home expenses are tax deductible, you should consult with a tax advisor.