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The cost of replacing the roof is generally considered a capital investment, added to the cost basis of the house, and not deductible on your current year tax return. By adding it to your cost basis, it may lower the capital gains tax you owe, if any, when you sell the house.
The cost of replacing the roof is generally considered a capital investment, added to the cost basis of the house, and not deductible on your current year tax return. By adding it to your cost basis, it may lower the capital gains tax you owe, if any, when you sell the house.
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