The bill would create a refundable federal tax credit equal to 35% of certain costs to make a person’s main home more accessible. Eligible changes include ramps, grab bars, wider doorways, accessible bathrooms, lifts, and other listed improvements. The costs counted toward the credit would be limited to $10,000 per tax year and $30,000 across all years. The credit would be reduced for taxpayers whose income is above specified thresholds. The bill would apply to tax years beginning after December 31, 2024.
You may qualify if you, your spouse, or a dependent who lives with you meets the bill’s rules for disability, blindness, certain benefits, or age 60 or older. Improvements must be made to your main home to improve accessibility. Married people filing separate tax returns could not claim the credit. The bill would require proof of eligibility and expenses.
The credit would cover 35% of qualifying expenses, subject to the limits and income reductions in the bill. No publicly available information is provided about the bill’s total cost to the federal government or the expenses a household might face beyond its own improvement costs.
No publicly available information.
No publicly available information.