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Get your taxes done using TurboTax
Did you report the income from the grant? There is no federal or CA state tax deduction for seismic retrofits at this time. You should add the net cost of this project to the basis of the property to lower any gains when you sell it.
AB-234 Income taxes: credit: seismic retrofits - I believe this is the bill you are referring to and it has only been introduced, not passed into law.
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‎February 25, 2022
7:21 PM