Submitted By: someone
Answered: November 8, 2018 1:50 am

Is there any special tax deduction for my child who has autism?

If you itemize deductions instead of claiming the standard deduction, you may be eligible for an itemized medical deduction with respect to treatment for your child’s condition. Depending on the severity of autism, you may want to look into ABLE accounts or special trusts that will help your child financially throughout his or her life without causing the loss of any government benefits to which the child may be eligible.

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Tax Glossary

Installment sale

A sale of property that allows for tax deferment if at least one payment is received after the end of the tax year in which the sale occurs. The installment method does not apply to year-end sales of publicly traded securities. Dealers may not use the installment method. Investors with very large installment balances could face a special tax.

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