Become a Member! 1  Gain access to thousands of new quotes only available to registered users. 2  Browse the site a lot faster with fewer advertisements. 3  Collect your favorite quotes to access and share at any time.  100% Free! We will never charge you anything and our content is completely user driven!
All associations that elect to be taxed as a homeowners association are entitled to a speciï¬c $100 deduction from its taxable income. This means that associations with relatively small amounts of taxable income could have their tax liability eliminated by the application of the speciï¬c $100 deduction.
Itemizing Deductions. To claim expenses for home health care and other allowable medical expenses, you must itemize deductions on Form 1040 Schedule A. Under IRS guidelines, you can only deduct the amount of your total medical expenses that exceeds 10 percent of your adjusted gross income.