Is a wheelchair van tax deductible? This is a question we receive a lot. While the cost of a wheelchair van as a whole is not deductible, there are tax credits that wheelchair vans purchasers can take advantage of. As 2019 comes to a close and we are only a few weeks away from ringing in the New Year, we wanted to take a minute to remind our customers of the disability tax deductions available to anyone who purchased one of our new or used wheelchair vans sale this year. While not everyone is eligible to receive these deductions, it is important to be aware of these deductions as you plan for taxes this year.
Wheelchair Van Investment
A vehicle purchase of any kind is a big investment, especially when it is a wheelchair van. But wheelchair accessible vans offer a lot of benefits for wheelchair users, their caregivers and their families. One of those benefits is a disability tax credit, which can offer some relief during the tax season. This is something that anyone who has already purchased a wheelchair van this year or anyone looking to buy a wheelchair van next year should take into consideration.
What is the Deduction for Wheelchair Vans?
Wheelchair van buyers may be eligible to deduct the amount of their medical and dental expenses that are more than 7.5 percent of their annual gross income under IRS Publication 502. They do this by itemizing deductions on their annual tax statements, specifically on form 1040.
What is Tax Deductible and What Isn’t?
While the wheelchair van itself is not tax deductible, the wheelchair van conversion and conversion features are deductible. This includes the cost of the conversion and the cost of items like hand controls, securement devices and a trackless transfer seat. Essentially it is any part of the vehicle that is a “special design” and sets it apart from a regular vehicle that can be purchased off the general manufacturer’s assembly line.
In addition to the cost of the conversion and conversion features, wheelchair van owners can deduct the costs associated with upkeeping the vehicle as long as they are using the van for medical purposes, such as transporting a wheelchair or getting to or from a medical appointment. While this does not include general vehicle maintenance, it can include items like gas, oil and mileage, which can really add up throughout the course of a year.
How Do You Qualify for the Wheelchair Van Tax Deduction?
As we mentioned earlier, wheelchair users who have purchased a wheelchair van this year may qualify for a medical expense tax deduction for the conversion of their wheelchair van. This deduction requires a letter or prescription from a medical professional detailing how a wheelchair van is medically necessary for transportation. It also requires that you fill out Schedule A under the IRS form 1040, which is the special deductions portion of the tax return.
What if the Wheelchair User is a Child?
The parents of children who use wheelchairs and require a wheelchair van be used for transportation may be eligible to claim their child’s medical expenses as a tax deduction. There are a few different requirements for a person that is claiming the expenses of a dependent rather than claiming for themselves, but in general if they are your child, sibling or parent, and listed as one of your household dependents and you provide more than fifty percent of their support, then you qualify and can deduct the expenses the same as an individual (listed above).
Tax Deductions for Your Rollx Van
Don’t forget. Your Rollx Vans wheelchair accessible modifications are, in most cases, tax deductible as a medical expense. Our team will supply you with a copy of the modification costs that you can use when filing your year end taxes. For more information or to get answers to any questions you may have, check the IRS website and then contact our sales team. One of our representatives can help you find the answers you are looking for, and get you started on your way to being the owner of a new or used wheelchair van.