A sewer line backed up at my condo. It is a 2nd home & investment property. a total loss, & I paid a lot of $ to repair it. Can I deduct the cost of the remodel?
011750
1 Replies
Vanessa A
Expert Alumni
Apr 14, 2025 5:06:13 PM
If it is a second home, what type of investment property? A rental? Going to sell it?
In general, not you cannot deduct the cost of a remodel on a second home. You can add it to the cost basis for when you sell it, it will lower your profit.