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Gary Davis CPA
Apr 21, 2010 - 9:18AM
Re: elderly care

One other consideration is that payments you make DIRECTLY to a medical provider on ANYONE's behalf are exempt from the general limitations on gifts (IRC 2503(e)).

The same is true for direct payments of tuition on behalf of ANYONE. This is true regardless of your relationship to the person.

You don't get a deduction, but it does get you around the gift tax restrictions that limit you to $13,000 per person per year.

Zip Code: 43085

Return to Website  > Index  > General Tax Issues  > Tax Deductions  > Re: elderly care