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How much is the tax credit for taking care of elderly parents? A guide to tax benefits

According to AARP, family caregivers spend an average of over $7,200 annually on out-of-pocket costs, a significant financial commitment. Understanding **how much is the tax credit for taking care of elderly parents** requires navigating several federal and state tax benefits that can provide much-needed financial relief. These are not a single credit but a combination of valuable tax advantages.