If you’re helping support an aging parent, you might be leaving money on the table at tax time. Many people assume that once a parent receives Social Security, they no longer qualify as a dependent—but that’s not always true. In fact, millions of caregivers could still claim their elderly parents and unlock valuable tax benefits. The rules can feel confusing, especially when income limits and support requirements come into play. Here’s a clear breakdown of how claiming elderly parents as dependents works—and what Social Security really means for your eligibility.
