what form do I use to deduct the expense of an elevator ?
You'll need to sign in or create an account to connect with an expert.
An elevator for what? Where did you put an elevator? Provide some details.
You can deduct it as medical expenses if its main purpose is medical care for you, your spouse, or your dependents. However, If you itemize, you can deduct only the part of your medical and dental expenses that exceeds 7.5% of the amount of your adjusted gross income.
If it is a capital improvement that adds value to your home, you won't be able to deduct it. It can be added to the cost basis of your home and subtracted from the sales price to determine the amount of your profit when you sell it.
what form do I use to deduct cost of an elevator in my home to go from floor to floor ?
Medical expenses are reported on Schedule A and entered in the Deductions & Credits section.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Tallie
Level 1
Tallie
Level 1
Tallie
Level 1
Tallie
Level 1
grids
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.