If you're providing more than 50% of the financial support for your aging parents, you may be eligible to claim them and get about $3,600 of EXEMPTIONS on your taxes. If you are doing the same for grown children because they are struggling, you may be able to claim them as well and score up to $3,600 in additional exemptions.
There are a lot of RULES, so make sure you look into getting the right help that knows them all.
Perhaps the biggest help comes from the Health Care Reform bill, in which children under 27 can go back on their parents' health insurance, if needed.
H&R; Block has specially-trained tax professionals who can help you benefit from all the tax law changes - over 300 since last year. Plus we offer fast money solutions, including free electronic filing. And we guarantee you the maximum refund, or your tax preparation is free. ¨