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Anonymous
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If I purchased a home and had to do a complete remodel to live in it, where do I enter my remodel cost info?

 
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maglib
Level 11

If I purchased a home and had to do a complete remodel to live in it, where do I enter my remodel cost info?

There is nothing to enter for taxes now related to home improvements.  That amount is added to your basis of the property to calculate gain/loss for future sales. You should keep a file of Home improvements (not normal maintenance) for future reference.

**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
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1 Reply
maglib
Level 11

If I purchased a home and had to do a complete remodel to live in it, where do I enter my remodel cost info?

There is nothing to enter for taxes now related to home improvements.  That amount is added to your basis of the property to calculate gain/loss for future sales. You should keep a file of Home improvements (not normal maintenance) for future reference.

**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer"
I am NOT an expert and you should confirm with a tax expert.
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