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AGE Act of 2024

USA118th CongressS-5163| Senate 
| Updated: 9/24/2024
Amy Klobuchar

Amy Klobuchar

Democratic Senator

Minnesota

Cosponsors (1)
Tina Smith (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Americans Giving Care to Elders Act of 2024 or the AGE Act of 2024 This bill provides a new nonrefundable tax credit for 20% of a taxpayer’s expenses to care for an older adult, subject to limitations. The amount of expenses incurred during any year that may be taken into account for the tax credit may not exceed $6,000. Further, the tax credit begins to phase out once a taxpayer’s adjusted gross income exceeds $120,000. The tax credit applies to expenses to care for certain relatives or members of the taxpayer's household who have attained the age of 65 and require assistance with activities of daily living. Expenses eligible for the tax credit include amounts paid for medical care, lodging away from home, adult day services, personal care, respite care, assistive technologies and devices (including remote health monitoring), environmental modifications (including home modifications), and counseling or training for a caregiver.
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Timeline

Bill from Previous Congress

S 116-1395
Age 21 Act

Bill from Previous Congress

S 117-4278
Age 21 Act
Sep 24, 2024
Introduced in Senate
Sep 24, 2024
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-1395
    Age 21 Act


  • Bill from Previous Congress

    S 117-4278
    Age 21 Act


  • September 24, 2024
    Introduced in Senate


  • September 24, 2024
    Read twice and referred to the Committee on Finance.

Taxation

AGE Act of 2024

USA118th CongressS-5163| Senate 
| Updated: 9/24/2024
Americans Giving Care to Elders Act of 2024 or the AGE Act of 2024 This bill provides a new nonrefundable tax credit for 20% of a taxpayer’s expenses to care for an older adult, subject to limitations. The amount of expenses incurred during any year that may be taken into account for the tax credit may not exceed $6,000. Further, the tax credit begins to phase out once a taxpayer’s adjusted gross income exceeds $120,000. The tax credit applies to expenses to care for certain relatives or members of the taxpayer's household who have attained the age of 65 and require assistance with activities of daily living. Expenses eligible for the tax credit include amounts paid for medical care, lodging away from home, adult day services, personal care, respite care, assistive technologies and devices (including remote health monitoring), environmental modifications (including home modifications), and counseling or training for a caregiver.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-1395
Age 21 Act

Bill from Previous Congress

S 117-4278
Age 21 Act
Sep 24, 2024
Introduced in Senate
Sep 24, 2024
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 116-1395
    Age 21 Act


  • Bill from Previous Congress

    S 117-4278
    Age 21 Act


  • September 24, 2024
    Introduced in Senate


  • September 24, 2024
    Read twice and referred to the Committee on Finance.
Amy Klobuchar

Amy Klobuchar

Democratic Senator

Minnesota

Cosponsors (1)
Tina Smith (Democratic)

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted