topic Deductibles in After you file

Deductibles

whitetiger818 — Thu, 25 Mar 2021 15:57:40 GMT

If I installed new windows and a new roof , but I did not claim this my income taxes, can I still omit it? Or is the Standard Deduction of $24800, better .

Re: Deductibles

DoninGA — Thu, 25 Mar 2021 16:01:20 GMT

Improvements to a personal residence, not used as a rental or in a business, are not deductible on a tax return. You can add the cost of the improvements to the basis of the home when it is sold.

Re: Deductibles

whitetiger818 — Thu, 25 Mar 2021 16:05:19 GMT

This is my second home I own. Is claiming windows and roof for it is separate from the standard deduction

Re: Deductibles

DoninGA — Thu, 25 Mar 2021 16:13:51 GMT

@whitetiger818 wrote:

This is my second home I own. Is claiming windows and roof for it is separate from the standard deduction

The same for the second home if it is not being used as a rental or in a business.