turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

djc716
New Member

How will my large ticket purchases be calculated on my 2022 tax return? I did a remodel and roof replacement.

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

How will my large ticket purchases be calculated on my 2022 tax return? I did a remodel and roof replacement.

If you are referring to improvements to your personal residence, not used as a rental or in a business, none of cost is entered on a tax return.

The cost of the improvements to your personal residence is added to the basis of the home when it is sold.

SusanY1
Expert Alumni

How will my large ticket purchases be calculated on my 2022 tax return? I did a remodel and roof replacement.

If you paid sales tax on the materials, and you are itemizing your deductions, you should go through the sales tax section of the deductions & credits portion of the program and enter your actual sales tax paid as it could increase your total itemized deductions.  

If you will be taking the Standard Deduction, these items won't affect your tax return.

The other potential tax item here would be related to credits for certain energy efficient home improvements, but only if any of your improvements were qualified. For more information on these credits, see this article on the energy tax credit. 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies