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ng_777
New Member

Can I deduct home improvement expenses for my rental property if it's a not-for-profit rental that I live in as well?

 
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2 Replies
ColeenD3
Expert Alumni

Can I deduct home improvement expenses for my rental property if it's a not-for-profit rental that I live in as well?

It depends. You called it a rental, a not-for-profit, and a personal home. I am assuming it is your personal home and someone is maybe a roommate that helps with expenses. In that case, no. Improvements are added to the basis of the home.

ng_777
New Member

Can I deduct home improvement expenses for my rental property if it's a not-for-profit rental that I live in as well?

Thank you @ColeenD3 for your expedited answer (and apologies for my delayed approval as family is in town). You read into my summary accurately - I was trying to post limited personal info. 

You gave the answer I needed even if it wasn't the answer I wanted. Lol. Oh well. That was the last piece of the puzzle that I needed. Thank you!


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