[WATCH]: Cost of Assisted Living May Be Tax Deductible

The cost of assisted living may be deductible on Federal income tax returns. The IRS has certain guidelines to determine eligibility. The cost of housing and meals and certain personal care services may be deductible; the determining factor is generally the inability to perform at least two activities of daily living without assistance. These daily functions include such activities as eating, toileting, transferring, medication assistance, dressing, and bathing. A physician must

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