DawnC
Expert Alumni

Deductions & credits

If you sold your home, you can deduct:

 

  • Home improvement costs (permanent changes) as an adjustment to the basis of the home you sold (not the same as repairs and maintenance)
  • Mortgage interest and real estate/property taxes charged at closing
  • Selling expenses to reduce your gain on the sale side of the home

If you sold a home that you use as a rental or investment property at a loss, you might also be able to deduct it as a loss. @jimavera 

 

Home Repair Expenses

Home Improvement Costs

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