None
EN
New Senate Bill Would Provide $10,000 Tax Credit Toward Home Upgrades for Seniors
['Jason Bramwell']
CPA Practice Advisor
By Leada Goreal.com(TNS)A new bill before Congress would open up a large tax credit to make it easier for senior citizens to stay in their homes.
Kirsten Gillibrand, D-NY, and Angela Alsobrooks, D-Maryland, recently introduced the Senior Accessible Housing Tax Credit Act.
The act would provide tax credits of up to $10,000 for taxpayers age 60 and older who make qualifying improvements to their homes.
“The Senior Accessible Housing Tax Credit Act would help seniors age with dignity by assisting with the cost of home modifications related to mobility needs.”
The nonrefundable tax credit would help cover expenses for certain home modifications on a primary residence or some second homes.