CAN YOU DEDUCT YOUR HOT TUB ON YOUR INCOME TAX?
A bad day for all: April 15th. It's always wise to be aware of possible deductions that will reduce your overall tax bill.
There are IRS regulations to allow a deduction for your hot tub purchase. If your doctor recommends hot water therapy for a medical condition you are clear.
Many people suffer from RLS, Chronic Fatigue, Fibromyalgia, arthritis, back pain or other medical issues. Soaking in hot bubbling water can relieve those aches and pains. There are many medical conditions when a hot tub purchase may qualify for a medical deduction.
Remember that a written recommendation is the first and most important step in the deduction process.
IRS Publication 502 covers medical expenses. Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and the costs for treatments affecting any part or function of the body.
A doctor's prescription turns your hot tub into deductible medical equipment. Just satisfy a few IRS conditions.
These include the costs of equipment, supplies, and devices for these purposes. They do not include expenses for beneficial to general health. Be sure your doctor agrees that the medical care expenses (i.e. hot tub) must be primarily to help or prevent a physical or mental defect or illness.