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Can i receive a tax break for home improvements?

new roof and 18kw standby generator
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2 Replies
Carl
Level 15

Can i receive a tax break for home improvements?

Property improvements to your primary residence or any other personal use property are not deductible. However, you "may" qualify for some type of energy credit on the generator "IF" it qualifies. You'll deal with that under the Deductions & Credits tab in the "My Home" section, when you get to that point in the program.

Cynthiad66
Expert Alumni

Can i receive a tax break for home improvements?

No.  Generally, home improvements on personal residences are not deductible .  

 

Those expenses are not lost, however, but may be added to the basis of the property.  When you make a home improvement, such as replacing the roof, you can't deduct the cost in the year you spend the money.  But, if you keep track of those expenses, they may help you reduce your taxes in the year you sell your house. 

 

However, if someone in your family has a medical device that relies on electricity, you may be able to deduct the generator from your taxes as a medical expense. Of course, this requires proper documentation when you file your tax return.  Use this link for additional information:   Can Your Generator be a Medical Deduction

 

@ourstoneywood200 

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