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rickandging
Level 1
June 6, 2019
Solved

I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

  • June 6, 2019
  • 1 reply
  • 8 views
i was the contractor, house had been un occupied for several years.. i had to obtain occupancy permit before moving in
    Best answer by MinhT1

    No, the expenses incurred in rebuilding your home are not deductible.

    They are added to the cost basis of your home.

    1 reply

    M
    MinhT1Answer
    Level 15
    June 6, 2019

    No, the expenses incurred in rebuilding your home are not deductible.

    They are added to the cost basis of your home.

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