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New Member
posted Jun 3, 2019 10:39:14 AM

Can I get credit for foundation repairs and waterproofing my cellar? It is a lifetime guarantee.

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1 Replies
Intuit Alumni
Jun 3, 2019 10:39:15 AM

No, if this is not a rental, there is no deduction or credit for the improvements. You can add this to your basis (property value) when you sell which could reduce the capital gains you may need to claim. 

If this is a rental, add it as an improvement (asset).