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DEAR SAVVY SENIOR: Are caregiving costs tax-deductible? I accommodate a lot of banking abutment to my aged mother and would like to acquisition out whether I can address any of it off on my taxes.

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DEAR SAVVY SENIOR: Are caregiving costs tax-deductible? I accommodate a lot of banking abutment to my aged mother and would like to acquisition out whether I can address any of it off on my taxes.

— Supporting Son

DEAR SUPPORTING: There are absolutely several tax deductions and credits accessible to developed accouchement who advice attending afterwards their crumbling parents or added relatives.

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Here are your options forth with the IRS requirements to advice you actuate whether you’re acceptable to accept them:

DEPENDENCY DEDUCTION

If you’re advantageous for added than 50 percent of your mom’s active costs (housing, food, utilities, medical and dental care, busline and added necessities), and her 2016 gross assets (not counting her Social Security benefits) was beneath $4,050, you can affirmation your mom as a abased on your tax acknowledgment and abate your taxable assets by $4,050.

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Also agenda that your mom doesn’t accept to alive with you to authorize as a dependent, as continued as her assets was beneath $4,050 and you provided added than bisected her banking support.

If your mother does alive with you, you can accommodate a allotment of your mortgage, utilities and added costs in artful how abundant you accord to her support. IRS Advertisement 501 (see irs.gov/pub/irs-pdf/p501.pdf) has a worksheet that can advice you with this. To accept this, or added IRS publications or forms via mail, alarm 800-829-3676.

SHARED SUPPORT

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If you allotment the banking albatross for your mom with added siblings, you may be acceptable for the IRS multiple-support declaration. Here’s how this works: If one affinity is accouterment added than bisected the parent’s banking support, alone that affinity can affirmation the parent. But if anniversary affinity provides beneath than 50 percent abutment but their accumulated abetment exceeds bisected the parent’s support, any affinity who provides added than 10 percent can affirmation the ancestor as a dependent.

But alone one affinity can affirmation the tax breach in any accustomed year. Ancestors can circle the tax break, with one claiming the ancestor one year and addition the next. The affinity who claims the ancestor as a abased will charge to ample out IRS Form 2120 (irs.gov/pub/irs-pdf/f2120.pdf) and book it with his or her tax return.

MEDICAL DEDUCTIONS

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If you can’t affirmation your mom as a dependent, you could still get a tax breach for allowance pay her medical costs. The IRS lets taxpayers abstract money spent on a parent’s bloom affliction and able abiding affliction services, alike if the ancestor doesn’t authorize as a dependent.

To affirmation this deduction, you still charge accommodate added than bisected your mom’s support, but your mom doesn’t accept to be beneath the $4,050 assets test. And the answer is bound to medical, dental and abiding affliction costs that beat 10 percent of your adapted gross income. You can accommodate your own medical costs in artful the total.

See the IRS advertisement 502 (irs.gov/pub/irs-pdf/p502.pdf) for details.

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DEPENDENT CARE CREDIT

If you’re advantageous for in-home affliction or developed day affliction for your mom so you are chargeless to work, you may additionally be able to affirmation the Abased Affliction Tax Credit, behindhand of whether your mom qualifies as a abased on your tax return. This acclaim can cut up to $1,050 off your tax bill for the year.

In adjustment to affirmation it, you charge ample out IRS Form 2441 (irs.gov/pub/irs-pdf/f2441.pdf) back you book your federal return.

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Jim Miller is a contributor to NBC-TV’s “Today” affairs and columnist of “The Savvy Senior.” Send your questions to Savvy Senior, P.O. Box 5443, Norman, OK 73070; or appointment savvysenior.org.

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