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Improvement costs on a personal residence, not used as rental or in a business, are not reported on a tax return. You can add the improvement costs to the basis of the home when it is sold.
The HVAC may qualify for an energy credit, but that's the extent of any tax benefit from these improvements.
Improvement costs on a personal residence, not used as rental or in a business, are not reported on a tax return. You can add the improvement costs to the basis of the home when it is sold.
The HVAC may qualify for an energy credit, but that's the extent of any tax benefit from these improvements.
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