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Not a deduction but the expenses are added to the cost basis of the home.
Not a deduction but the expenses are added to the cost basis of the home.
Remodeling or fixing up your own bathroom is not a deduction on your federal tax return, but save all the records of the expense for someday when you sell the house.
Property improvements to your main home are not reported or deductible anywhere on your tax return. But it does add to your cost basis in the property. This will not matter until the tax year one of three things happens in your life.
1. You convert the property to a rental or other business use.
2. You sell the property.
3. You die.
Until then, you should file all paperwork concerning the improvement with the closing documents you received when you originally purchased/acquired the property.
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