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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4027
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I am applying V A. pension and getting my medical expenses

Customer Question

I am applying for a V A. pension and getting my medical expenses in order. If I buy a medical trust ( I am 88 tears old), can I include that money I pay as a medical expense?
I am currently partially home bound, and pay a grandson to be acretaker. Do I have to provide him with a 1088 form, and are my payments taxablr to him?
Submitted: 3 months ago.
Category: Tax
Customer: replied 3 months ago.
I meant "Funeral Trust" in stead of medical trust. Sorry
Expert:  PDtax replied 3 months ago.

Hi from Just Answer. I'mCustomer I will assist.

A funeral trust qualifies as an allocation of assets for asset-based programs like medicaid.

Your payments for care are taxable to your grandson. You should provide him with a 1099-MISC, but alternatives could include inclusion in your will to provide something for him, which would be tax free.

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