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Subject Author Date
stair lift - medical deduction? Jane 06-24-2007
Posted by Jane on June 24, 2007, 10:42 pm
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 I am having a stair lift installed. My doctor will be
signing a form of medical necessity so that I don't have to
pay state taxes.

Is this a medical deduction for federal taxes?

thanks

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Posted by Benjamin Yazersky CPA on June 26, 2007, 12:20 am
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> I am having a stair lift installed. My doctor will be
> signing a form of medical necessity so that I don't have to
> pay state taxes.
>
> Is this a medical deduction for federal taxes?

When you say state taxes, do you mean state sales tax? or
income tax? or something else?

It may be a federal tax deduction as an itemized expense.
But you have to be careful in this area if what you are
doing increases the value of the house.

You should consult your own CPA/tax advisor exactly how this
works in your situation.

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] >>>
-----> real address on hobokeni or hobokenx <-----

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<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
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Posted by Arthur Kamlet on June 26, 2007, 12:20 am
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> I am having a stair lift installed. My doctor will be
> signing a form of medical necessity so that I don't have to
> pay state taxes.
>
> Is this a medical deduction for federal taxes?

Yes, to the extent it does not increase the value of the
home.

Example: Install a $12,000 item required for medical
necessity. The value of the home is increased by $3000.
Your medical deduction is $9,000.

--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by DF2 on June 27, 2007, 10:54 pm
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Arthur Kamlet wrote:

>> I am having a stair lift installed. My doctor will be
>> signing a form of medical necessity so that I don't have to
>> pay state taxes.
>>
>> Is this a medical deduction for federal taxes?

> Yes, to the extent it does not increase the value of the
> home.
>
> Example: Install a $12,000 item required for medical
> necessity. The value of the home is increased by $3000.
> Your medical deduction is $9,000.

When we sold a home with a stair lift, the real estate agent
said we should remove it before showing the house. We asked
if it might not be a positive. The agent said that most
people who would need a stair lift would buy a house without
stairs.

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Phil Marti on June 26, 2007, 12:20 am
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> I am having a stair lift installed. My doctor will be
> signing a form of medical necessity so that I don't have to
> pay state taxes.
>
> Is this a medical deduction for federal taxes?

Yes, minus the increased valued of the home. See IRS
Publication 502.

--
Phil Marti
Clarksburg, MD

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2006) - All rights reserved. >>
<< ------------------------------------------------------- >>

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