I bought my house on November 9, 2017. With it came some repairs that I had to make. In July, 2018 I had to replace the hot water tank and the main water line to the house. In December 2018 I had to replace the Heat & A/C unit. Since I had to do this within a year or a little over can I deduct the expense anywhere, if so, where?
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Repairs made to a personal residence, not used as a rental or in a business, are not deductible on a tax return. The cost of any improvements to the residence can be added to the basis of the home when it is sold.
Repairs made to a personal residence, not used as a rental or in a business, are not deductible on a tax return. The cost of any improvements to the residence can be added to the basis of the home when it is sold.
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