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Home improvement
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Home improvement
If you are asking if you can deduct home improvement - no, you cannot. The home improvement cost is added to the cost of your home (in your records), thus reducing potential profit on your future home sale.
However, if you are itemizing your deductions you can deduct sales tax on any materials you have purchased (certain states allow sales tax on labor too), here is data entry:
- Federal Taxes
- Deductions and Credits
- Scroll down to Estimates and Other Taxes Paid, select sales tax
- Mark as New
- Bookmark
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- Subscribe to RSS Feed
- Permalink
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Home improvement
If you are asking if you can deduct home improvement - no, you cannot. The home improvement cost is added to the cost of your home (in your records), thus reducing potential profit on your future home sale.
However, if you are itemizing your deductions you can deduct sales tax on any materials you have purchased (certain states allow sales tax on labor too), here is data entry:
- Federal Taxes
- Deductions and Credits
- Scroll down to Estimates and Other Taxes Paid, select sales tax
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