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No, you cannot deduct it. The new garage door is an improvement. The cost is added to your basis when you sell the home. That means that when you calculate the gain (profit) on the sale of your home, the calculation will be based on what you originally paid for the home, plus the cost of the garage door and any other improvements.
No, you cannot deduct it. The new garage door is an improvement. The cost is added to your basis when you sell the home. That means that when you calculate the gain (profit) on the sale of your home, the calculation will be based on what you originally paid for the home, plus the cost of the garage door and any other improvements.
Ok, I saw conflicting opinions online. Some said if attached and insulated it was but if not attached to home it was not.
A garage door(that opens for vehicle access) does not qualify for a Residential Energy Property Credit. If you replace the door from an attached garage that enters into the house, you may qualify because that is classified as an exterior door to the house.
From the IRS:
In 2018, 2019, 2020, and 2021, an individual may claim a credit for (1) 10% of the cost of qualified energy efficiency improvements and (2) the amount of the residential energy property expenditures paid or incurred by the taxpayer during the taxable year (subject to the overall credit limit of $500).
Qualified energy efficiency improvements include the following qualifying products:
Residential energy property expenditures include the following qualifying products:
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