165114
You'll need to sign in or create an account to connect with an expert.
The IRS does not allow you to claim improvements or repairs to your own home. You can add the amounts you paid to your basis (what you have in invested in your home) and that can save you money if you sell the home.
If the money was spent on a rental property, then it is deductible. Enter the amounts on Schedule E.
The work would count as a capital improvement that will increase the cost basis of the house. That will reduce gains when the house is sold.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
davidcurtisrobinson
New Member
nav1957
New Member
cphall1206
New Member
jv2011
New Member
jason12685
New Member