are home improvements tax deductible?

Answer 1

depends on what stae you live in, in CA you can only use them if it is a home repair.

Answer 2

No, not unless they fit as a medical deduction, e.g. in some limited circumstances, something like air conditioning or a hydrotherapy pool might be deductible if a doctor states in writing that it is necessary due to your health problem.

Improvements, NOT REPAIRS, can be added to the basis of the house, and might reduce your capital gains tax when you sell.

Answer 3

What you're describing is familiar maintenance which isn't tax deductible. in case you have been to function a room or carry out a little considerable reconstruction, this would desire to be extra to the muse of the valuables that will boost its value. in spite of the undeniable fact that, you will no longer be able to apply this till you sell the valuables and it comes time to pay taxes on the income.

Answer 4

Assuming you are referring to a primary residence, they only add to the basis (cost) of the home which is a factor only when you sell. They are not tax deductible.

Answer 5

No, but they can reduce the capital gains realized when you sell your home.

For example: you pay $200,000 for your home, spend $50,000 on improvements and then sell for $800,000. Your taxable gain (ignoring exemptions, etc.) is $550,000, not $600,000.

Answer 6

Only if you use a home equity loan or a second mortgage to fund the home improvements.

Answer 7

yes

Answer 8

yes.

Answer 9

not usually.