You might want to make some upgrades to your house, but they could be a bit expensive. If you make upgrades to your house that qualify as medical expenses, you may be able to deduct them from your taxes. Before you do so, you should always reach out to a qualified accountant who can review your work to make sure you are allowed to claim that deduction. What are a few examples of home upgrades that might be tax deductible?
Upgrades That Address Joint Pain
If you have severe joint pain, you may have a difficult time navigating your house. You may need to make some upgrades to your house that make it easier for you to get around. For example, you might be thinking about installing a wheelchair ramp. Or, you might need to make some changes to your stairs and your railings. There is even a chance that you may consider installing a pool in your house that can help you stay healthy. Remember to get a letter from your doctor stating that these upgrades can help you treat your arthritis.
Upgrades That Address Chronic Lung Conditions
If you have a chronic lung condition, you may need to make changes to your home’s HVAC and air filtration systems to address your symptoms. If you or your children continue to have asthma, allergies, or COPD exacerbations, you should talk to your physician about changes you can make to your HVAC system to reduce contaminants in your area. It can be expensive to make upgrades to your home’s HVAC and air filtration systems, but you may be able to deduct them from your taxes if you can prove they are required to address your symptoms.
You May Need To Get An Appraisal
These home upgrades could increase the value of your house, so you may need to talk to your real estate agent to get an appraisal before you claim a deduction. Then, don’t forget to combine this paperwork with a letter from your doctor stating that these upgrades can help you address medical conditions. Finally, you should always talk to an accountant about how you can properly claim these upgrades as deductions on your taxes.