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Income Tax Research

Essay specific features

 

Issue:

Business

 

Written by:

John S

 

Date added:

November 9, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 651

 

Was viewed:

7037 times

 

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Essay content:

He also had the bottom and the sides tiled in his favorite color, mountaineer red. This extra amenity costs Mr. Johnson an extra $1,300.00. The total cost of the pool is $21,000.00, including the $1,300.00 for the red tile. It was estimated by an independent appraiser that the pool increased the value of his home by $1,200...
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These costs would be deductible as a medical expense. Conclusion My conclusion is that Mr. Johnson can deduct $18,500.00 ($21,000 minus $1,200 minus $1,300) as a medical expense from his income taxes. He may not deduct the $1,300.00 for the red tile because it does not benefit his medical condition...
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