Throughout the 2024 tax year, unpaid family caregivers will be able to claim up to $2,000 or $3,000 in tax credits depending upon the person for whom they are providing care.
House Majority Leader Tammy West, R-Oklahoma City, shepherded House Bill 1029XX – The Caring for Caregivers Act – through the last Legislature session.
West released a statement on the subject.
“While caregiving is a labor of love, it can come at a great financial toll,” West said. “I’m thrilled to be able to offer this tax relief to our Oklahoma family caregivers. This will help ensure their loved ones can stay in their homes when their health is failing, eliminating the need for the much more costly option and the added emotional burden of being cared for in a taxpayer-funded nursing home.”
The credit tax is limited to $2,000 per year for family caregivers with a gross income below $50,000 for single filers or $100,000 for joint filers. Those caring for veterans or those with dementia-related diagnoses are eligible for up to $3,000 per year.
Individuals must qualify as a dependent, spouse, parent or they must be someone related by blood or marriage to the family caregiver. Those receiving care must be 62 years of age or older and need help with at least two daily living activities that are certified by a licensed healthcare provider.
