IRS PUblications says that maximum of 30% of total costs and no higher than $1,200 is allowable. But the updated version says is now $2,000amount is now $2,000 per year starting in 2023, Which is corr...
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IRS PUblications says that maximum of 30% of total costs and no higher than $1,200 is allowable. But the updated version says is now $2,000amount is now $2,000 per year starting in 2023, Which is correct?
posted
March 26, 202411:39 PM
last updated
March 26, 202411:39 PM
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IRS PUblications says that maximum of 30% of total costs and no higher than $1,200 is allowable. But the updated version says is now $2,000amount is now $2,000 per year starting in 2023, Which is correct?
What home improvement are you entering on the form 5965?
There are different rules for each section...look at lines 18 thru 20 :
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