I converted my basement into a room and added a 6 foot fence. Can i deduct any of these cost?
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1 Best answer
TomD8
Level 15
Jun 6, 2019 3:19:41 AM
You can't deduct expenses like this if done to your primary residence. Instead, you'll add the expenses to your cost basis at the time you sell the property, thus reducing your taxable capital gain. So save your receipts.
1 Replies
TomD8
Level 15
Jun 6, 2019 3:19:41 AM
You can't deduct expenses like this if done to your primary residence. Instead, you'll add the expenses to your cost basis at the time you sell the property, thus reducing your taxable capital gain. So save your receipts.