Understanding Tax Breaks for Family Caregivers: Credits, Deductions and More
Medical Expense Deductions For dependents with medical expenses that have not been reimbursed by an insurance plan, deductions may be available. Specifically, medical expense deductions are available for qualifying medical expenses that exceed 7.5% of a caregiver’s adjusted gross income (AGI). Generally, this deduction is most useful for those who have accumulated significant medical expenses […]
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