Solved: I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

i was the contractor, house had been un occupied for several years.. i had to obtain occupancy permit before moving in

posted

No, the expenses incurred in rebuilding your home are not deductible.

They are added to the cost basis of your home.

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No, the expenses incurred in rebuilding your home are not deductible.

They are added to the cost basis of your home.

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

I bought a new car and just completed Fed and State online forms, but can't find where to record the tax paid for a deduction. Anyone have any idea where this might be?

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I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

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I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

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I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

I purchased a piece of property in 2014 with an unlivable house. i demoed it and completely rebuilt it in 2016.......am i able to claim any of the expenses as deductions?

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