Just a reminder to consult your tax professional. The IRS allows a taxpayer to deduct certain qualified medical expenses that exceed 10% of your adjusted gross income for the year. Your AGI, or adjusted gross income, is your taxable income less any appropriate deductions.
According to the IRS, an exemption exists from Jan. 1, 2013 to Dec. 31, 2016 for persons who are age 65 and older and their spouses. If you or your spouse are 65 years or older or turned 65 during the tax year you are allowed to deduct unreimbursed medical care expenses that exceed 7.5% of your adjusted gross income. This threshold remains at 7.5% of AGI for those taxpayers until Dec. 31, 2016. For persons under age 65, the threshold is 10% of AGI.
Nursing home expenses can fit into this category. If the main reason for being in a nursing home is for medical care, the cost, including room and board can qualify as a deductible medical expense. Again, it is important to discuss your situation with a professional tax advisor. See also www.irs.gov.