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drositano
Returning Member

I had water damage to my home and have paid a designer, draftsman

My insurance has paid out part of a settlement but these expenses are on me until the city signs off on the repairs to my home after permits.  These are large expenses, can I deduct them?
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1 Reply
HelenC12
Expert Alumni

I had water damage to my home and have paid a designer, draftsman

@drositano 

If this is you personal residence, no, you can't deduct them however, when you sell the home, those "home improvements" will be added to the basis of your property reducing your gain.

 

For additional information, see Can I deduct home improvements on my tax return?

 

[Edited 2/16/22|5:17 am PST]

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