New Member

I converted my basement into a room and added a 6 foot fence. Can i deduct any of these cost?

Level 15

Deductions & credits

You can't deduct expenses like this if done to your primary residence.  Instead, you'll add the expenses to your cost basis at the time you sell the property, thus reducing your taxable capital gain.  So save your receipts.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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