Our home is paid off and we did a home improvement loan. How do we claim that?

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The cost of a home improvement to a personal residence is not reported on a tax return. The cost of the improvement is added to the basis of the home when it is sold.

The interest may be deductible as mortgage interest, under certain conditions. See https://wallethub.com/answers/pl/are-home-improvement-loans-tax-deductible-2140686581/

It would be best if your loan company treated it as such and issued you form 1098. But, you can still deduct the interest without a 1098.

I qualified for the Oklahoma Credit for Employees in the Aerospace Sector since 1/2/2018, but have never claimed it. What do I need to do to claim the full $25,000 since I can't amend tax returns that far back?

in Deductions & credits

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Our home is paid off and we did a home improvement loan. How do we claim that?

Our home is paid off and we did a home improvement loan. How do we claim that?

Our home is paid off and we did a home improvement loan. How do we claim that?

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Our home is paid off and we did a home improvement loan. How do we claim that?

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Our home is paid off and we did a home improvement loan. How do we claim that?

Our home is paid off and we did a home improvement loan. How do we claim that?

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