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makeusagreat
New Member

Can I claim home improvements such as new concrete driveway and installation of a new Versa Lock brand retaining wall? $8500 cost. My primary residence.

 
1 Reply
jerry2000
Alumni

Can I claim home improvements such as new concrete driveway and installation of a new Versa Lock brand retaining wall? $8500 cost. My primary residence.

No, you can not.
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
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