Timothy suffers from heart problems and, upon the recommendation of a physician, has an elevator installed in his personal residence. In connection with the elevator, Timothy incurs and pays the following amounts during the current year:
The system has an estimated useful life of 20 years. The appraisal was to determine the value of Timothy's residence with and without the system. The appraisal states that the system increased the value of Timothy's residence by $2,000. How much of these expenses qualify for the medical expense deduction (before application of the 7.5% limitation) in the current year?

Question

Timothy suffers from heart problems and, upon the recommendation of a physician, has an elevator installed in his personal residence. In connection with the elevator, Timothy incurs and pays the following amounts during the current year:
  The system has an estimated useful life of 20 years. The appraisal was to determine the value of Timothy's residence with and without the system. The appraisal states that the system increased the value of Timothy's residence by $2,000. How much of these expenses qualify for the medical expense deduction (before application of the 7.5% limitation) in the current year?

Quizplus · Accepted Answer

The Answer of Timothy suffers from heart problems and, upon the recommendation of a physician, has an elevator installed in his personal residence. In connection with the elevator, Timothy incurs and pays the following amounts during the current year:
  The system has an estimated useful life of 20 years. The appraisal was to determine the value of Timothy's residence with and without the system. The appraisal states that the system increased the value of Timothy's residence by $2,000. How much of these expenses qualify for the medical expense deduction (before application of the 7.5% limitation) in the current year?

Timothy Suffers from Heart Problems And, Upon the Recommendation of a Physician