See IRS Publication 502
Remember that all such deductions require that you itemize on your tax return, and, that the expenses were incurred for you or one of your dependents. Always consult with your tax accountant or attorney before taking such deductions.
http://www.irs.gov/publications/p502/ar02.html#en_US_publink1000178902
Capital Expenses
You can include in medical expenses amounts you pay for special equipment installed in a home, or for improvements, if their main purpose is medical care for you, your spouse, or your dependent. The cost of permanent improvements that increase the value of your property may be partly included as a medical expense. The cost of the improvement is reduced by the increase in the value of your property. The difference is a medical expense. If the value of your property is not increased by the improvement, the entire cost is included as a medical expense.
BeHome4Ever, Inc. can perform home assessments that will detail the modifications you need to make your home more accessible. Your tax deduction may cover the entire cost of the assessment. Certain improvements made to accommodate a home to your disabled condition, or that of your spouse or your dependents who live with you, do not usually increase the value of the home and the cost can be included in full as medical expenses. These improvements include, but are not limited to, the following items.
Only reasonable costs to accommodate a home to a disabled condition are considered medical care. Additional costs for personal motives, such as for architectural or aesthetic reasons, are not medical expenses. Remember that all such deductions require that you itemize on your tax return, and, that the expenses were incurred for you or one of your dependents. Always consult with your tax accountant or attorney before taking such deductions.
To print the remaining rules and worksheet click below:
Remember that all such deductions require that you itemize on your tax return, and, that the expenses were incurred for you or one of your dependents. Always consult with your tax accountant or attorney before taking such deductions.
http://www.irs.gov/publications/p502/ar02.html#en_US_publink1000178902
Capital Expenses
You can include in medical expenses amounts you pay for special equipment installed in a home, or for improvements, if their main purpose is medical care for you, your spouse, or your dependent. The cost of permanent improvements that increase the value of your property may be partly included as a medical expense. The cost of the improvement is reduced by the increase in the value of your property. The difference is a medical expense. If the value of your property is not increased by the improvement, the entire cost is included as a medical expense.
BeHome4Ever, Inc. can perform home assessments that will detail the modifications you need to make your home more accessible. Your tax deduction may cover the entire cost of the assessment. Certain improvements made to accommodate a home to your disabled condition, or that of your spouse or your dependents who live with you, do not usually increase the value of the home and the cost can be included in full as medical expenses. These improvements include, but are not limited to, the following items.
- Constructing entrance or exit ramps for your home.
- Widening doorways at entrances or exits to your home.
- Widening or otherwise modifying hallways and interior doorways.
- Installing railings, support bars, or other modifications to bathrooms.
- Lowering or modifying kitchen cabinets and equipment.
- Moving or modifying electrical outlets and fixtures.
- Installing porch lifts and other forms of lifts (but elevators generally add value to the house).
- Modifying fire alarms, smoke detectors, and other warning systems.
- Modifying stairways.
- Adding handrails or grab bars anywhere (whether or not in bathrooms).
- Modifying hardware on doors.
- Modifying areas in front of entrance and exit doorways.
- Grading the ground to provide access to the residence.
Only reasonable costs to accommodate a home to a disabled condition are considered medical care. Additional costs for personal motives, such as for architectural or aesthetic reasons, are not medical expenses. Remember that all such deductions require that you itemize on your tax return, and, that the expenses were incurred for you or one of your dependents. Always consult with your tax accountant or attorney before taking such deductions.
To print the remaining rules and worksheet click below:
| tax_deductible_home_modifications.pdf |