turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

srowley
New Member

Is water-proofing and drain system in crawl space of house an improvement or a repair?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

Is water-proofing and drain system in crawl space of house an improvement or a repair?

A repair fixes something that is broken.

The IRS indicates what constitutes a real property capital improvement as follows:

  • Fixing a defect or design flaw
  • Creating an addition, physical enlargement or expansion
  • Creating an increase in capacity, productivity or efficiency
  • Rebuilding property after the end of its economic useful life
  • Replacing a major component or structural part of the property
  • Adapting property to a new or different use

View solution in original post

1 Reply
Coleen3
Intuit Alumni

Is water-proofing and drain system in crawl space of house an improvement or a repair?

A repair fixes something that is broken.

The IRS indicates what constitutes a real property capital improvement as follows:

  • Fixing a defect or design flaw
  • Creating an addition, physical enlargement or expansion
  • Creating an increase in capacity, productivity or efficiency
  • Rebuilding property after the end of its economic useful life
  • Replacing a major component or structural part of the property
  • Adapting property to a new or different use

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question