Tax tip! You may be eligible to claim your parent as a dependent

It’s tax season again! If you contribute towards your parent’s assisted living, you may be eligible to claim him or her as a dependent. Here is a great tip from USAA Magazine regarding overlooked credits and write-offs for caregivers,  “Those supporting an aging parent may be able to claim the parent as a dependent even if the parent lives in his or her own home or in an assisted living facility. You must provide more than 50% of your parent’s support costs. If your parent is your dependent and you’re not married, you may also qualify for head of household filing status.”

http://www.nxtbook.com/nxtbooks/pace/usaa_2015spring/#/9

 

 

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