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SidneyB
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Can both, the materials and the labor, be itemized for a home remodel/repair?

I live in the state of Texas
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Accepted Solutions

Can both, the materials and the labor, be itemized for a home remodel/repair?

Repairs, maintenance, and improvements  to your personal residence property are not deductible from current income. If you make major improvements which increase your home’s market value or extend its useful life, you can add the cost of the improvements to the cost basis of your home, and you get the benefit when you sell.
You might find it helpful to read IRS Pub. 530, Tax Information for Homeowners
http://www.irs.gov/pub/irs-pdf/p530.pdf

Also, if you did the work yourself, you can not claim the value of your time.

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1 Reply

Can both, the materials and the labor, be itemized for a home remodel/repair?

Repairs, maintenance, and improvements  to your personal residence property are not deductible from current income. If you make major improvements which increase your home’s market value or extend its useful life, you can add the cost of the improvements to the cost basis of your home, and you get the benefit when you sell.
You might find it helpful to read IRS Pub. 530, Tax Information for Homeowners
http://www.irs.gov/pub/irs-pdf/p530.pdf

Also, if you did the work yourself, you can not claim the value of your time.
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