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Deductions & credits
You have nothing concerning this to report on any tax return. however, file all the paperwork with the HUD-1 statement you received when you originally purchased the house. Your new roof is basically a property improvement that adds to the cost-basis of your house. This will matter for your taxes when any one of three things happens in your life.
- You sell the house
- You convert the house to a rental property or other business use such as claiming a home office.
- You die.
- You sell the house
- You convert the house to a rental property or other business use such as claiming a home office.
- You die.
‎June 3, 2019
1:50 PM