Are Stairlifts Tax Deductible
Stairlifts are one of the most common home modifications for those who want to age in place. They can ensure that different parts of the home are accessible to everyone, giving those with mobility issues a greater sense of independence and creating a much safer environment in the household.
When deciding to install a stairlift in your home, it’s essential to ask yourself several key questions, such as: How quickly can a stairlift be installed in my home? What are my brand options? We have the answers to many of these questions on our Frequently Asked Questions page. But one question we get very often at HomeLift that isn’t on our FAQ page is, “Are stairlifts tax-deductible?”
The answer? Yes, maybe.
Stairlifts are definitely tax-deductible if it is “medically necessary.” This means a medical professional has prescribed you or your loved one a stairlift in order to preserve or increase their quality of life. If you have written documentation that your provider believes a stairlift is medically necessary, then the expenses related to your stairlift can be written off on your taxes. These expenses can also include the cost of operation and maintenance of your stairlift, but only if the main reason is a medical necessity.
When trying to make a home more accessible for yourself or a loved one, you have many ways to make the process much more affordable. If you have any specific questions about the deductibility of certain medical expenses on your taxes, we strongly encourage you to reach out to a qualified tax professional. If you’d like to speak to one of our aging-in-place experts about a stairlift for your home, please contact us. If you’re also wondering if Medicare covers stairlifts, you can read our recent blog post on the topic here.
