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posted Jun 4, 2019 7:26:00 PM

Can I deduct improvements such as new driveway

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1 Best answer
Level 15
Jun 4, 2019 7:26:02 PM

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.

1 Replies
Level 15
Jun 4, 2019 7:26:02 PM

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.