Can I deduct improvements such as new driveway

claytoncarman · ‎June 4, 2019

TomD8 · ‎June 4, 2019

You can't deduct repairs or improvements to your personal residence. But you'll be able to add the cost of the driveway to your cost basis when you eventually sell the property, thus reducing your potentially taxable capital gain. So save your receipts.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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TomD8 · ‎June 4, 2019

You can't deduct repairs or improvements to your personal residence. But you'll be able to add the cost of the driveway to your cost basis when you eventually sell the property, thus reducing your potentially taxable capital gain. So save your receipts.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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Can I deduct improvements such as new driveway