Here’s what you already know: Your average bath remodel can’t be funded with pocket change. Here’s what you might not realize: A bath remodel that involves much-needed safety updates could put change back in your pocket. It’s true: It’s possible to get a tax break out of a bathroom remodel!
Many times when we’re working with baby boomer clients, we get asked about quick fixes for making a bathroom safer for aging parents. The concern is often that parents showing signs of balance issues will have to relocate due to falling hazards, particularly when getting in and out of the bathtub or having to use a standard-height toilet. It’s a surprise to most of these clients to learn that about 15 percent of the whole adult population—not just the elderly—report having balance or dizziness issues every year. But the thought of paying for permanent bathroom safety upgrades (as opposed to quick fixes) is hard to stomach.
What many people don’t realize is that the IRS permits you to include in your medical expenses any amounts you pay for home improvements that have the primary purpose of medical care for you, your spouse, or your dependent. This is good news not just for people with aging parents but for anyone with a medical condition that creates safety challenges in the bathroom, such as children with special needs or individuals taking medications that cause vertigo. In a bathroom remodel, some of the upgrades that can draw a tax credit include:
- Widening or otherwise modifying hallways and interior doorways
- Installing railings, support bars, or other modifications to bathrooms
- Moving or modifying electrical outlets and fixtures
- Modifying hardware on doors
Don’t feel guilty about beautifying your own bathroom when your parents’ bathroom needs a safety upgrade. Don’t feel embarrassed about adding things like safety railings to your own bathroom if you have a medical reason for doing it. Granite countertops, glass-tile floors, and steam showers are all beautiful additions we love to provide our clients, but safety upgrades are sometimes a must—and give you a tax break, to boot!
