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Get your taxes done using TurboTax
No. Capital improvements are added to the cost basis of the home but are not deductible. This increases the cost of the home which will be needed at a time in the future when the home is sold. Keep an ongoing record of any and all capital improvement as long as you own your home and until it is sold.
The deductions allowed on your tax return will be mortgage interest and real estate taxes for itemized deductions for your personal home.
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‎January 26, 2022
12:47 PM