Can We Use My Dad’s IRA to Pay Nursing Home Fees?2023-04-072023-04-07https://www.eliselampert.com/wp-content/uploads/2019/11/screen-shot-2019-11-12-at-3.14.01-pm.pngElise Lampert, Attorney At Lawhttps://www.eliselampert.com/wp-content/uploads/2019/11/screen-shot-2019-11-12-at-3.14.01-pm.png200px200px
Yes. In most states, he would have to liquidate the IRA in any case. Be aware that doing so means that he’ll have taxable income. However, the nursing home fees should be deductible as a medical expense.
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