cred65 Posted March 21, 2009 Report Posted March 21, 2009 Client in the 35% tax bracket has parents in their 80's that have filed jointly in preious years (also client). The mother was put in nursing home in early 08 and son footed the bill of $46,550. Mother had gross income of $3,008 and SS of $9,233. The four requirements for Qualifying Relatative are satisfied (as I see it). The life care portion of the $46,550 designated for medical care will be elgible as medical expenses on the sons return (as I see it). The parents joint return will not be materially affected by this transaction since father has only $16K of gross income. Am i correct in this assumption? Or vegged out? Quote
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