Can the total cost of a lift chair be deducted as a medical expense if you qualify

[xmasbaby0]

https://ttlc.intuit.com/replies/6154165

[Red Dragon]

My Doctor recommends, in an Email to me, that I purchase a chair lift for the one flight of stairs in my Condos hallway. I have approval from my board for this installation.

[xmasbaby0]

@Red Dragon 

From this IRS publication:

https://www.irs.gov/publications/p502#en_US_2016_publink1000179040

 

 

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 isn't increased by the improvement, the entire cost is included as a medical expense.

Certain improvements made to accommodate a home to your disabled condition, or that of your spouse or your dependents who live with you, don't usually increase the value of the home and the cost can be included in full as medical expenses. These improvements include, but aren't 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 your disabled condition are considered medical care. Additional costs for personal motives, such as for architectural or aesthetic reasons, aren't medical expenses.

Capital expense worksheet.

 

Use Worksheet A to figure the amount of your capital expense to include in your medical expenses.

[xmasbaby0]

MEDICAL EXPENSES

The medical expense deduction has to meet a rather large threshold before it can affect your return. The amount of medical (including dental, vision, etc.)  expenses that will count toward itemization is the amount that is OVER 7.5% of your adjusted gross income. You should only enter the amount that you paid in 2020—do not include any amounts that were covered by insurance or that are still outstanding.  Of course, your medical expenses plus your other itemized deductions still have to exceed your standard deduction before you will see a difference in your tax due or refund.

To enter your medical expenses go to Federal>Deductions and Credits>Medical>Medical Expenses

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