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S

sam4u99

Junior Member
I was wondering if anyone knew whether or not any home improvements/repairs are tax deductable?
thanks:p
 


A

anteater

Senior Member
sam4u99 said:
I was wondering if anyone knew whether or not any home improvements/repairs are tax deductable?
thanks:p
Click to expand...
Not immediately, but you may be able to add the cost to your cost basis which would decrease your gain if you eventually sell the home and might possibly decrease any tax on capital gains.

See this IRS pub:

********www.irs.gov/pub/irs-pdf/p523.pdf
 
H

HomeGuru

Senior Member
sam4u99 said:
I was wondering if anyone knew whether or not any home improvements/repairs are tax deductable?
thanks:p
Click to expand...

**A: would this be for your personal residence or rental property?
 
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