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Updated about 10 years ago on . Most recent reply
Can you really write off less junk in your trunk with a Gym Membership?
Thoughts?
Can you write off a Gym membership? YES... IF A DOCTOR PRESCRIBES IT! According to this article anyways. I wanted to share this article since I am sure many folks with a New Years Resolution might be joining a gym. http://www.irs.com/articles/can-you-deduct-your-gy...
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How is this real estate related?
It seems that the information in the article disagrees with the IRS Pub on Medical Expense deductions. According to the IRS Pub, a gym membership fee is not deductible. If the doctor gives you a prescription for a specific therapy offered at a gym, then the cost of the therapy is deductible, but the general gym membership fee is not -- only the separate fees that may be charged to participate in the therapy program are deductible.
Refer to IRS Pub 502 for specific details.