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Is there a tax credit for caring for elderly parents? Yes, learn what tax benefits are available

According to a 2025 estimate, many families face significant out-of-pocket costs, averaging thousands of dollars annually, when caring for aging relatives. The good news is that there are several tax benefits, including credits and deductions, that can help offset some of these expenses if you are a caregiver asking, "Is there a tax credit for caring for elderly parents?".