Summary: H.R.2505 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.2505. Bill summaries are authored by CRS.

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Introduced in House (05/17/2017)

Credit for Caring Act of 2017

This bill amends the Internal Revenue Code to allow an eligible caregiver a new tax credit for 30% of the cost of long-term care expenses that exceed $2,000, up to $3,000 in a taxable year. The bill defines "eligible caregiver" as an individual who has earned income for the taxable year in excess of $7,500 and pays or incurs expenses for providing care to a spouse or other dependent relative with long-term care needs.