A construction project of any kind—such as the addition of a swimming pool—can cost homeowners a pretty penny. There are construction materials, permits, and labor costs to consider—and the expenses add up very quickly.
Wouldn’t it be nice if you could find a way to “write it off”?
Although it was more than three decades ago, one taxpayer did. According to articles published by Forbes and TurboTax, he was able to receive a tax deduction for his swimming pool, since the primary purpose for building it was medical. In this particular case, the pool was built after the taxpayer’s doctor recommended an exercise program to help with his breathing, which was compromised due to emphysema. The result: a new swimming pool.
In addition to writing off a portion of the pool construction, the taxpayer was also able to deduct some of the other maintenance expenses that accommodate pool ownership, such as heating the water and chemicals.
Please note: I am not suggesting that you write off your swimming pool this year. I would recommend running it by a certified tax professional first, to see if an opportunity for tax deduction exists.
Aside from the potential tax deduction, swimming pools come with many health benefits. Swimming can help relieve pain-related illness, it can improve mood, and of course, it is a great form of exercise.
You can read more about the health benefits of swimming here.