- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Repairs that restore a property to as-was condition are never deductible. Improvements, which are defined as something that is a permanent addition to the property that increases the property’s value or extends its useful life, are also not deductible, but they can be added to the cost basis and may reduce your capital gains tax when you sell.
April 15, 2021
6:19 PM