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kakamath
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Can I deduct the money I spent on changing lead pipes as tax deductible? We have a new born at home and the repair was after the baby was born.

 
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Can I deduct the money I spent on changing lead pipes as tax deductible? We have a new born at home and the repair was after the baby was born.

For a personal residence changing lead pipes would not be deductible.

However, if the change increases 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.

See Home Improvements And Your Taxes


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