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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?


To: Brendan W who wrote (942)4/5/1998 2:43:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 5810
 
Brendan, If by HMO "dues", you mean MEDICAL INSURANCE PREMIUMS or FEES, then yes they are deductible as a medical expenses for the taxpayer and his dependents too!

If the child qualifies as a dependent then the parent could pay all Medical Expenses and as you suggest, transfer assets down in excess of the $10,000 limit. Other items that qualify: Food, Shelter(to an extent) and Education.

Colin