How to Claim the Elderly as a Dependent on Federal Taxes
Becoming the caregiver of an elderly parent, relative or friend can be intensely difficult and incredibly rewarding. While the rewards are in helping another, the government has attempted to make it easier to handle the costs associated with elder care. By being able to claim an elderly parent as a dependent, you will be able to afford better care, which could translate into a longer life for your parent or elderly relative. It also helps ease the burden that such costs can place on your family.
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Instructions
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Total how long the person has lived with you. To list an elderly person as a dependent on your taxes, that person must have lived with you at least six months of the year you are claiming, according to the Internal Revenue Service (IRS).
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Calculate how much of the living expenses you have paid. The IRS allows you to claim an elderly person as a dependent if you provide for at least 50 percent of the living expenses such as food, clothing, shelter and any medical costs that Medicare or privately-held insurance would not have paid.
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Keep accurate records. The amount spent on living expenses as well as any additional costs, such as a home health care nurse or special equipment necessary for the care of the elderly dependent, may need to be proven. Keep records of these expenses to speed up the tax filing process.
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References
Resources
- Photo Credit elderly lady image by pixelcarpenter from Fotolia.com
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Comments
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CT261guy
Jul 16, 2010
In item #1, this is not the case. There is a Special Rule for Parent, explained in IRS Publication 17, page 25 of the 2009 edition. It states: "...you must pay more than half the cost of keeping up a home that was the main home for the entire year for your father or mother." This also applies to a rest home or home for the elderly.
