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The Best Way to Save for College 200...

Joseph F. Hurley

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102

Straight Talk Tip


Aging Parent Deductions

If you provide more than half of an aging parent's support, you may be able to declare your parent a dependent even if he or she is not living in your home. In addition to getting the dependent deduction, you may also be able to take a tax deduction for your parent's medical expenses. To prove you pay the expenses, pay your parent's bills directly to the provider, rather than giving your parent(s) the money to pay the bill.


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