Deductions & credits


@azaline wrote:

Can I get credit for a Walk in Tub?


Yes, but it's complicated.  Home improvements made for medical reasons are only deductions if they do not also increase the value of the home.  If they increase the value of the home, they adjust your cost basis and may reduce your capital gains later, but are not a deduction now.  

 

The IRS recognizes that many improvements made for medical reasons probably don't increase the value of the home.  But you will need to document (write down) your reasons for how you decided this, and keep that with your other important tax papers for as long as you own the home.

 

For example, if you did a $10,000 bathroom remodel that included a walk-in tub, you probably can't count the entire remodel as a medical expense since it probably increased the value of your home.  But the difference in cost between a standard tub and a walk-in would be the deductible medical expense.