You can not deduct the expense to purchase and install a whole house generator on your tax return. This is considered a capital improvement and is added to the basis of your home. Your basis is used when you sell to determine capital gain or loss.
A capital improvement is something that actually adds to the value of the home or increases its usefulness. Some examples of capital improvements are:
You can not deduct the expense to purchase and install a whole house generator on your tax return. This is considered a capital improvement and is added to the basis of your home. Your basis is used when you sell to determine capital gain or loss.
A capital improvement is something that actually adds to the value of the home or increases its usefulness. Some examples of capital improvements are: