Can a new installation of Hardie Board be used as a deduction? The stucco board we had had rotted out and was causing leaks, rotting and animal entry.

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If the Hardie Board was installed on a rental property, then yes. This can be expensed as a repair.

If the Hardie Board was installed on your personal residence, then the IRS will not allow a deduction for this new siding. However, you may be eligible for a Residential Energy Credit if you added insulation during the process of replacing your siding.

Please see this EnergyStar webpage for more details.