While Medicare does not cover the cost of long-term care services, they may qualify as a deductible medical expense. Since your spouse is chronically ill and requires personal care services, the cost is deductible provided they are pursuant to a plan of care prescribed by a licensed health care practitioner. As children in school are told: Get a doctor’s note.
The estimated value of an asset at the end of its useful life. Salvage value is ignored by ACRS and MACRS rules.