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Federal

PHIT Act of 2023

Source: Congress.gov  ·  1,016 words in original text
This bill changes how the federal tax code treats spending on physical fitness and exercise. It allows people to count money spent on sports and fitness activities as "medical care" expenses for tax purposes, which means they can deduct these costs from their taxes. The bill aims to encourage healthier lifestyles and reduce the financial burden of staying fit.
People who pay for fitness activities and memberships. Families that want to deduct exercise expenses on their taxes. Fitness facilities and gyms that provide physical activity programs. State and local governments that operate fitness facilities.
• Money spent on fitness facility memberships, physical activity instruction, and exercise equipment can now be treated as medical care expenses on your taxes (Sec. 3(b)). • Individual taxpayers can deduct up to $1,000 in qualified fitness expenses per year, while married couples filing jointly or heads of households can deduct up to $2,000 per year (Sec. 3(b)(B)). • A "fitness facility" must provide instruction in physical exercise, cannot be a private club owned by members, cannot offer golf/hunting/sailing/riding facilities, and must follow all anti-discrimination laws (Sec. 3(b)(C)). • Single sports equipment items (other than exercise equipment) are limited to $250 per item as a deductible expense (Sec. 3(b)(E)). • Videos, books, and similar materials count as qualified expenses only if they teach physical exercise or physical activity (Sec. 3(b)(D)).
If this bill becomes law, taxpayers can subtract qualified fitness and sports expenses from their taxable income, up to the annual limits. This reduces the amount of income subject to federal taxes.
• Qualified sports and fitness expenses: Money paid only for participating in physical activities, including gym memberships, exercise instruction, or equipment used exclusively for fitness. • Fitness facility: A place that provides physical exercise instruction or facilities, is not a members-only private club, does not offer golf/hunting/sailing/riding, and follows all anti-discrimination laws.
The changes apply to tax years beginning after this bill is signed into law (Sec. 3(c)).
Important: This plain English summary was generated by AI and is provided for informational purposes only. It is not legal advice. Always consult the official bill text on Congress.gov or a qualified attorney for legal matters.