A bill becomes law if signed by the President or if not signed within 10 days and Congress is in session. If Congress adjourns before the 10 days and the President has not signed the bill then it does not become law (Pocket Veto.)
Amounts paid. or reasonably expected to be paid during estate administration are deductible on Form 706; or, executor can elect to. claim some administration expenses on Form 1041 when paid. On Form 1041, expense is subject to 2% adjusted gross.
Tax deductions for both caregivers and assisted living can be made under the right circumstances and with the proper documentation. Itâs common knowledge that you can deduct the cost of medical expenses if they exceed 7.5% of your Adjusted Gross Income. But, many times both families and tax professionals may be missing the deduction for long-term care, non-medical costs for a âchronicâ condition (as defined by the IRS).