We financed a new foundation for our home. Is it tax deductible?

laurenuga · ‎June 6, 2019

MinhT · ‎June 6, 2019

For a foundation on your home (residence), the cost is not tax deductible.

But this cost can be added to the cost basis of your home.

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MinhT · ‎June 6, 2019

For a foundation on your home (residence), the cost is not tax deductible.

But this cost can be added to the cost basis of your home.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

laurenuga · ‎June 6, 2019

Can you please elaborate? What do you mean by the cost can be added to the cost basis of my home?

xmasbaby0 · ‎June 6, 2019

It will be information needed when you sell the house someday.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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We financed a new foundation for our home. Is it tax deductible?