Given that a walk in tub is such an indulgent and luxurious purchase it is no surprise that many people wonder are walk in tubs tax deductible. As with many questions around tax and medical need, the answer is it depends.
However, there are certain tax allowances that may means a walk in tub is tax-deductible if it is a medical need. Home modifications costs for medical purposes are eligible expenses for tax deductions.
Whether you can claim tax back on a walk-in tub or not, be sure to check out our list of the best walk in tubs for your budget. We’ve conducted detailed research to establish the best use of whatever funds you have. We have found some surprising bargains while also finding a lot of very expensive models are as good as they should be.
Are Walk In Tubs Tax Deductible?
According to the Department of the Treasury Internal Revenue Service publication 502, medical expenses include not only the services of healthcare professionals but also supplies, devices and equipment. The publication says allowable 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. Medical care expenses must be primarily to alleviate or prevent a physical or mental defect or illness. They don’t include expenses that are merely beneficial to general health.”
So what does that really mean? If you’re buying something just because it is generally good for you then it is not tax-deductible. However, if you are diagnosed with a specific condition that means you require specific treatment, then that is potentially tax-deductible.
Basically, you probably need a doctor’s prescription in order to get a tax deduction for a walk-in tub. Even better, try and get a Letter of Medical Necessity from your doctor to support your claim. The medical expense also needs to cost more than 7.5% of your gross income if you are over 65. If you are under 65 then the expense needs to be greater than 10% of your gross income.
What Is Not Tax Deductible
Unfortunately this means that if you are buying a walk-in tub for non-medical reasons then you can’t claim. That’s a shame as there are a huge number of medical and therapeutic benefits to a walk-in tub but unless it is a prescribed necessity you are unlikely to get tax back on it.
But even if you can’t claim tax back, the benefit remains very small. Don’t forget that while you may not be able to claim, that money is instead going to someone who may need it more. You could potentially save more money by getting a better deal in the first place.
Get The Best Walk-in Tub Cost Savings
When finding the right walk-in tub for you shop around to make sure you get the best deal. Did you know there’s a whole category of walk in tubs on Amazon? Once you’ve had a look there, Wayfair also offer regular discounts. Both these online stores ship directly from factories and warehouses and so don’t have to.pay for a brick and mortar store, so they can often pass on those savings.
Finding walk-in tubs on sale on Wayfair is actually very simple. Just search for walk in tubs, go to “filter” and select “sale”.
While you should be sure to avoid getting into bad debt, walk-in tubs are just the sort of high-value purchase that you could put on a credit card to earn points.
Don’t forget that if you go for professional installation make sure to ask for any senior or medical discounts. Maybe even use this to decide which service to go for and actively seek out a well-rated service provider who also offers discounts.
Are walk in tubs tax deductible? Maybe not in a lot of situations. However, there are pllenty of ways to save money on the ultimate luxurious bath tub.