Deduct Home Improvements

Kristin asks:

Hello,

I found your article "Deducting Home Improvements as Medical Costs" online and was wondering if you could help me with a question I have.

To what extent and under what conditions may major medical-related home installations  (i.e. – elevator, bed lift – if paralyzed, etc) be accelerated versus deferred?

Any help would be appreciated.  

Thank you.

My reply:

Hello Kristin, I would like to help you, but I'm kind of pressed for time right now so this is a short answer and if you need further explanation, please let me know....

• accelerating the deduction would be the ability to claim it before you sold the house - the ability to expense a portion or all of it now.  This is generally allowable if the item is not expected to last more than one year.
  
• deferring the deduction would be adding the cost to the basis of the home and then obtaining the deduction when you sold the home (reducing any gain on the sale).  This is generally done when the item is expected to last more than one year.
  

I hope that helps.

Best wishes,
Gina