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Level 1
posted Mar 5, 2025 10:36:54 AM

Are deductions possible on international home renovations I made to a house that's not technically mine?

Hello! My dad owns a house in Sri Lanka and I want to make it into an Airbnb so I spent around $30k on renovations this year. Am I able to get any tax benefits from having spent that money on house renovations, particularly in an international case like this? If not, what can I do in the future so that my future spending on this house can give me a tax benefit?

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1 Replies
Expert Alumni
Mar 5, 2025 11:00:33 AM

Yes. The renovations would have to be depreciated over time. You would report them as leasehold improvements, an asset in TurboTax and then depreciate them over 27.5 years for residential property, for the years the property is being rented.