topic Can I deduct the cost of a radon-mitigation system that we installed in our home during 2016? in Get your taxes done using TurboTax

Can I deduct the cost of a radon-mitigation system that we installed in our home during 2016?

erekanderson — Sat, 01 Jun 2019 04:43:07 GMT

No. That is not deductible. Repairs, maintenance, and imp...

jerry2000 — Sat, 01 Jun 2019 04:43:09 GMT

No. That is not deductible.
Repairs, maintenance, and improvements to your personal residence property are not deductible from current income. If you make major improvements which increase your home’s market value or extend its useful life, you can add the cost of the improvements to the cost basis of your home, and you get the benefit when you sell.
You might find it helpful to read IRS Pub. 530, Tax Information for Homeowners
http://www.irs.gov/pub/irs-pdf/p530.pdf

and IRS Pub. 523, Selling your home
http://www.irs.gov/pub/irs-pdf/p523.pdf

Re: No. That is not deductible. Repairs, maintenance, and imp...

MikeSpalding — Tue, 04 Feb 2020 17:57:35 GMT

The IRS did consider allowing this, but it is considered a home improvement. You can use it to increase your basis when you sell your rental property and reduce capital gains.

Re: Can I deduct the cost of a radon-mitigation system that we installed in our home during 2016?

shobuddy — Sun, 08 Aug 2021 21:20:54 GMT

Following up on this chain, what is you have a home office as part of your LLC?