[Note to the moderators/administrators: If this question is inappropriate due to requesting professional advice, or any other reason, please accept my apologies and close it].
Both my parents are quite old, and will likely need living assistance for the rest of their lives. They have, among other assets, a stock portfolio. Its value would likely be sufficient to fund their medical needs for several years, but we’re concerned with the implications regarding the capital gains tax. The stock is obviously worth much more than when my father inherited it in the late 1970’s, and he’s afraid he would lose half or more of its value to the taxman. But, if most of that money is going to fund home health and custodial care, then wouldn’t my parents be entitled to deduct those expenses from their income?