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Level 2
March 25, 2021
Question

Deductibles

  • March 25, 2021
  • 3 replies
  • 22 views

If I installed new windows and a new roof , but I did not claim this my income taxes, can I still omit it?  Or is the Standard Deduction of $24800, better .

    3 replies

    DoninGA
    Level 15
    Level 15
    March 25, 2021

    Improvements to a personal residence, not used as a rental or in a business, are not deductible on a tax return.  You can add the cost of the improvements to the basis of the home when it is sold.

    Level 2
    March 25, 2021

    This is my second home I own. Is claiming windows and roof for it is separate from the standard deduction 

    DoninGA
    Level 15
    Level 15
    March 25, 2021

    @whitetiger818 wrote:

    This is my second home I own. Is claiming windows and roof for it is separate from the standard deduction 


    The same for the second home if it is not being used as a rental or in a business.