Are Stair Lifts And Their Installation Costs Tax Deductible?

A common question we often get asked is whether or not stair lifts are tax deductible? It goes without saying that with the costs involved in a lift or any sort, being able to take it off your taxes can have enormous benefits.

We first off want to say upfront that we are not tax advisors in the least. The best advice that we can give you is to speak with your tax accountant or preparer to get the specifics. But that said, we do know that you can deduct the costs of a stair lift if they are medically necessary.

What that means is that you will need to get your doctor to in fact state that the stairway lift is needed. They can simply write out a script or letter stating it is, and you will want to save that for your records in case of an audit.

The stair lift or elevator also needs to improve the value of your property, This is really not much of a factor if the lift was installed professionally and looks nice in your home. It will almost always add value to your property.

The IRS publishes booklet that you can get free of charge. It is called IRS Publication 502 and you can download it from their website at: www.irs.gov/pub/irs-pdf/p502.pdf or you can give them a call on their 800 number at 800-829-3676. Hopefully this will help you in lowering your tax bill, while also giving you the ability to freely move around your home with your new stair lift.

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