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stixoffury
New Member

Bought a Primary residence in WI w/o a basement. If I bought a storm shelter, in the future, is any of it tax deductible?

 
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ToddL99
Expert Alumni

Bought a Primary residence in WI w/o a basement. If I bought a storm shelter, in the future, is any of it tax deductible?

A storm shelter (built-in or free-standing) would not be deductible for tax purposes.

 

If it were attached to your residence, the cost would be added to the cost basis of your residence and taken into account when calculating any gain when you sell.

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1 Reply
ToddL99
Expert Alumni

Bought a Primary residence in WI w/o a basement. If I bought a storm shelter, in the future, is any of it tax deductible?

A storm shelter (built-in or free-standing) would not be deductible for tax purposes.

 

If it were attached to your residence, the cost would be added to the cost basis of your residence and taken into account when calculating any gain when you sell.

View solution in original post

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