Guest guest Posted April 28, 2002 Report Share Posted April 28, 2002 a, Have I said lately that I hate the IRS and that I'm so happy April 15th has passed? Sounds like your accountant gave you the right info. He's being very conservative, but, where the IRS is concerned, that's usually a good idea. It was implied in a few things I read out there in cyberspace that the hot tub, if considered a medical necessity, could be used by others but that you could take the full deduction anyway. Since you have both a hot tub and a pool, I think that's the best you could do regarding the deductions for the pool. God knows you don't want to trigger an audit and go through that nonsense. But don't take my word on any of this since the only way I would ever learn enough about tax law and IRS codes to give advice would be if I were jailed for life and had no access to anything to read but tax law books, tax codes, and other information from the IRS. Re: [ ] Hot Tubs and the IRS > Great info . Now I understand why I can deduct my pool and Debs can't. > > The cost of permanent improvements that increase the value of the property > may be partly included as a medical expense. The cost of the improvement is > reduced by the increase in the value of the property. The difference is a > medical expense. If the value of the property is not increased by the > improvement, the entire cost is included as a medical expense. > > My pool is above ground and doesn't increase my property value. > a Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 28, 2002 Report Share Posted April 28, 2002 Great info . Now I understand why I can deduct my pool and Debs can't. The cost of permanent improvements that increase the value of the property may be partly included as a medical expense. The cost of the improvement is reduced by the increase in the value of the property. The difference is a medical expense. If the value of the property is not increased by the improvement, the entire cost is included as a medical expense. My pool is above ground and doesn't increase my property value. a [ ] Hot Tubs and the IRS > IRS Publication 502: > http://www.irs.gov/formspubs/display/0,,i1%3D50 & genericId%3D11563,00.html > > Tax notes from a hot tub manufacturer: > http://www.olympichottub.com/doc/buy_taxes.htm > > Tips from the Christian Science Monitor: > http://www.csmonitor.com/durable/2000/11/06/fp12s6-csm.shtml > > > > > > > > > > > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted April 28, 2002 Report Share Posted April 28, 2002 We're more conservative with the pool deduction because it is definitely pleasurable to many, but the hot tub is MINE! Do I sound a little possessive? LOL! Actually and I use it the most and since it helps his back, we probable could deduct 100%, but like you I prefer conservative with the IRS. Yes, I hate them too! The constant changes do nothing but spend more of our tax dollars. Get rid of government waste in just the IRS and I'll bet they could reduce our taxes by 50%. There really has to be an easier way. a Re: [ ] Hot Tubs and the IRS > a, > > Have I said lately that I hate the IRS and that I'm so happy April 15th > has passed? > > Sounds like your accountant gave you the right info. He's being very > conservative, but, where the IRS is concerned, that's usually a good > idea. It was implied in a few things I read out there in cyberspace that > the hot tub, if considered a medical necessity, could be used by others > but that you could take the full deduction anyway. Since you have both a > hot tub and a pool, I think that's the best you could do regarding the > deductions for the pool. God knows you don't want to trigger an audit > and go through that nonsense. > > But don't take my word on any of this since the only way I would ever > learn enough about tax law and IRS codes to give advice would be if I > were jailed for life and had no access to anything to read but tax law > books, tax codes, and other information from the IRS. > > > Quote Link to comment Share on other sites More sharing options...
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