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todd
Level 1

What can I expenses can I deduct after selling my house?

Just sold my house after 15 years.  What can I deduct as expenses from my profit. 

  • Added new backyard patio
  • Re-carpeted entire house - heard if you do whole house it can be deducted - but not if just one room
  • New high end appliances
  • Repainted interior of house
  • Repainted exterior of house
  • Replaced 15 windows
  • Repair terminate damage to close on sale

 

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1 Reply

What can I expenses can I deduct after selling my house?

Most improvements or upgrades you do to your home (other than routine maintenance) that add value to the home can be considered part of the "cost" of the house.  This isn't really a deduction, but does decrease the amount of taxes you owe on the profit of the sale.

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