I did renovation to my home, can I claim the expenses on my taxes

janetjenkins7001 · ‎March 17, 2020

MinhT1 · ‎March 17, 2020

No, renovations to your home (residence) are not tax deductible. The cost can be added to the cost basis of your home, which reduce your capital gain when you sell it.

If the renovations are for a rental home, they must be capitalized and depreciated.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

MinhT1 · ‎March 17, 2020

No, renovations to your home (residence) are not tax deductible. The cost can be added to the cost basis of your home, which reduce your capital gain when you sell it.

If the renovations are for a rental home, they must be capitalized and depreciated.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

I did renovation to my home, can I claim the expenses on my taxes