Good evening not sure if my last question went through; can I claim the out of pocket expense for a roof replacement?
01262
1 Best answer
CherylW
Level 3
Jun 5, 2019 10:59:36 PM
If it was for a rental property, then yes.
If it's for your personal residence, then no. When you sell your home, the roof's cost will be added to the basis of your home, which will make your gain less.
1 Replies
CherylW
Level 3
Jun 5, 2019 10:59:36 PM
If it was for a rental property, then yes.
If it's for your personal residence, then no. When you sell your home, the roof's cost will be added to the basis of your home, which will make your gain less.