If a woam was recently diagnosed with a severe case of degenerative arthritis. H

Question

If a woam was recently diagnosed with a severe case of degenerative arthritis. Her doctor

has strongly recommended water therapy to relieve her pain, slow the degenerative process, and

enhance her mobility. While she has a huge home, but do NOT currently have a pool. and

she saw an existing house, with a large pool, for sale. While this house is big even

by their standards, they thought that it might make sense to buy the new house if part of the cost of the

house might be allocable to the pool and deductible for tax purposes. what is the

potential tax consequences for her of buying the new house.

And if she can have some tax benefits, could you provide the law reference such as IRS 502

Explanation / Answer

answer:

• the possible duty penalty wiil be summary on purchase the home on checkup grouns.

• since she determination illustrate the motive of buy and the checkup claim.

• A fraction of the value of the home is allowable to the deprived and it is deductible intended for levy point but present be capable of be siginificant decrease in the identical

• it be capable of be claimed in her checkup requirement and she strength be save from the tax that is particularly allowed to the puddle. • subsequently the equivalent due payback the present the decree location this called IRS 562

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.