Labor cost deduction on my house that I am general contractor of as my business

[mbc3]

Can I deduct the labor cost of my basement finish if I am the general contractor listed and I am a framing contractor as my business for last 20 years.

[TomK2023]

No, this renovation is a personal expense on your own home that is not tax deductible (unless it was for medical reasons).

[leeloo]

Absolutely not. Your own labor is never a consideration.

[mbc3]

Even though I hired and paid my own employee's to do the work on my basement?

[DawnC · Accepted solution]

Wages you pay to employees are deductible on your business return.   If you file Schedule C, those expenses are entered in Common Business Expenses.