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Get your taxes done using TurboTax
If this is your personal residence, you can't deduct anything. This is a capital improvement and adds to the cost basis of the home, which may reduce your capital gains when you sell, but is not deductible now.
If this is a rental property, this is treated as an improvement, which is added to your cost basis and then depreciated along with the rest of the property, as a rental expense, generally over 27.5 years.
March 30, 2019
9:59 PM
1,594 Views