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teisvin
New Member

Can I claim home repairs?

I replaced my kitchen and porch floors. Also demoed my whole bathroom. Im doing these updates to sell my house but I prob wont put it on the market for another year but Im only doing these updates for this reason so canI claim the repairs I've done
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Can I claim home repairs?

Repairs on a personal residence are a non deductible expense.

However, if you make improvements which increase your home’s market value and/or extend its useful life, you can add to the cost basis of your home, which may reduce the capital gain when you sell your property.

In addition, you may be able to deduct the sales tax paid for building materials for a major improvement to the home if you itemize deductions and choose the sales tax deduction over state income taxes paid.

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