Google Answers: Medical tax saving in living in a continuing care community

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Q: Medical tax saving in living in a continuing care community ( No Answer, 0 Comments )

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Subject: Medical tax saving in living in a continuing care community
Category: Business and Money > Accounting
Asked by: willie620-ga
List Price: $20.00

Posted: 08 Oct 2005 12:22 PDT
Expires: 07 Nov 2005 11:22 PST
Question ID: 577946

My wife and I have moved on Aug. 22, 2005 to  Continuing Care
retirment place called Classsic Residence b Hyatt in Palo Alto CA. Our
90% returnable entrance fee of 1.6M and the $6,500 monthly fee give us
some type of prepaid medical on our Federal and state income tax. The
question how does this work and how much will we be able to claim as
medical exp. on our taxes. Thanks and Thanks again

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