Under the "Permanent Home Improvements" for Adjusted Cost Basis does replacing ceiling and adding additional lighting count?

alanpark2 · ‎June 3, 2019

PaulaM · ‎June 6, 2019

There isn't a hard fast rule for what counts as an improvement vs. a repair. If the above costs were undertaken in order to ready the property to a sell-able state, then they could be classified as an improvement.

See below for guidance.

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Home-Improvements-and-Your-Taxes/INF12...

http://www.dbbllc.com/newsletters/focus/mar2012/irs-clarifies-capital-improvement-vs-repair-expense

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