Care for adult children, parents could have a tax benefit

01/25/2013 | CNBC

Providing care and financial support for a relative, making them a dependent under tax laws, can qualify taxpayers for a deduction of $3,800. The deduction could benefit baby boomers who support aging parents or adult children. "There's a changing family dynamic because of the economy," says Bob Meighan of TurboTax.

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