Where do I enter my remolding cost.

mcknightdonna — Thu, 06 Jun 2019 08:27:42 GMT

Is this for your home or for a rental property?

IreneS — Thu, 06 Jun 2019 08:27:43 GMT

Is this for your home or for a rental property?

If the remodeling costs are for your principal residence,...

IreneS — Thu, 06 Jun 2019 08:27:45 GMT

If the remodeling costs are for your principal residence, the costs are not deductible on your return. Keep track of them, though, because they will be added to the basis of your property when you sell in the future.

If the remodeling costs are for a rental property, any improvements $2,500 or less can be taken as an expense under the De Minimis Safe Harbor Election. Any improvements above $2,500 must be entered as assets and depreciated along with the property.

topic Where do I enter my remolding cost. in Get your taxes done using TurboTax

Where do I enter my remolding cost.

Is this for your home or for a rental property?

If the remodeling costs are for your principal residence,...