Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

No. This is considered your second personal home. Add any major improvments to the basis of the home. Keep track of your receipts and it can help to lower any gain when you sell.

View solution in original post

1 Reply

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

No. This is considered your second personal home. Add any major improvments to the basis of the home. Keep track of your receipts and it can help to lower any gain when you sell.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

Do you have an Intuit account?

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

Can i deduct home improvements for a home i bought for my parents to live in, but they do not pay rent?

Unlock tailored help options in your account.

Get more help

Related Content