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dbrodbro-brooks1
New Member

Can personal labor or travel expenses be considered in basis of property? I built the second home myself.

 
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MargaretL
Employee Tax Expert

Can personal labor or travel expenses be considered in basis of property? I built the second home myself.

No, it cannot, unfortunately. Personal labor is never considered or deducted; it's simply not allowed by the IRS. The same applies to travel... it is not considered improvement or "cost" of building as a capital expense. It is not included in the basis of the property. 

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MargaretL
Employee Tax Expert

Can personal labor or travel expenses be considered in basis of property? I built the second home myself.

No, it cannot, unfortunately. Personal labor is never considered or deducted; it's simply not allowed by the IRS. The same applies to travel... it is not considered improvement or "cost" of building as a capital expense. It is not included in the basis of the property. 

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