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luvmonkeys5
New Member

I just bought a house. Can I claim home improvements (new floor put in, furniture purchased, appliances)? How do I do so?

 
1 Reply
IreneS
Intuit Alumni

I just bought a house. Can I claim home improvements (new floor put in, furniture purchased, appliances)? How do I do so?

No -- not if this is your principal residence.

Improvements to your principal residence are not deductible on your tax return.  But keep track of these expenses--you can add them to the basis (cost) of your home to reduce the gain when you sell the home in the future.

However, property taxes, mortgage interest and mortgage insurance are deductible on your return.

For more good information on home improvements, please see this FAQ: 

https://ttlc.intuit.com/replies/3301939


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