CAN I DEDUCT THE COST OF INSTALLATION OF IMPACT WINDOWS FROM THE CAPITAL GAINS IF THEY WERE DONE PRIOR TO SELLING MY CONDO. OR IS IT ALL CONSIDERED CAPITAL GAINS

Bought the condo for 235000 , had impact windows installed 3 months later. Sold the condo for 287000. is it all considered capital gains

posted

No. Your new windows are considered a property improvement. The cost gets added to your cost basis in the property.

Do you have an Intuit account?