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Hot Spring Spas of Music City
Ph: (615) 443-4441
FX: (615) 443-8688
1429 West Main St.
Lebanon, TN 37087
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Store Hours:
Mon-Fri : 10-6
Sat: 9-3
Sun: Closed |
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Getting the IRS to Soak Up Some
 of
the Costs of Your Hot Tub
What if you could buy your hot tub and
get the IRS to subsidize it? Well,
it's possible if your doctor
recommends frequent soaks at home! An article in Pool &
Spa News (March 31, 1999 issue) shows how to do it.
First, you require a written recommendation
from your doctor in order to get the deduction. Once you have acquired this, you will need to follow
certain requirements:
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It must be installed expressly to help a debilitating
condition (for example arthritis) for you or for a dependent.
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The hot tub must be designed and primarily used
for medical purposes, not for general recreational use (although
others are not prohibited from using it).
To calculate how much you can
deduct, take this into account:
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The complete installation cost. This does not
include any aspects of the project that are trivial and/or not
medically necessary, such as decorative tiling.
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The impact of the hot tub on the value of your
home. If the appraised value of the home goes up due to the
installation, you will have to deduct the increase in value
from your deduction.
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Whether the hot tub qualifies as a capital-improvement
medical deduction. If it does, you will potentially be able
to write off the maintenance costs of the hot tub as well.
However, there are limitations:
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Please check with your accountant for Schedule
A, 1040 qualification.
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If you deduct the hot tub from your taxes when
it is installed, you will not be able to deduct it as a home
improvement when you eventually sell the house.
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