Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jan 31, 2021 10:43:03 AM

Capital Improvements. I put up a retaining wall to protect further erosion of my yard. Can this be deducted?

0 1 91
1 Replies
Expert Alumni
Jan 31, 2021 10:58:18 AM

No, you cannot deduct the cost of a capital improvement to your property, even if it was necessary to protect the property from erosion (or other) damage.

 

The cost of the retaining wall would get added to the overall cost basis of your property (purchase price plus other improvements). When you sell the home, you can the deduct  the cost of those improvements from the proceeds of the sale.

 

 I sold my home, what can I deduct?