is major landscape work done at the home tax deductable?

Answer 1

It is not deductible. However, it does increase the tax basis or 'cost' of the home. If you are not eligible to exclude any gain when you sell, the increased basis will reduce your taxable gain.

Answer 2

No, you can however add it to the basis (the cost of your home used for tax purposes) when you sell your home. This can come in handy if you have a major gain in value of your home. All profits over $250,000 (single) or $500,000 (married) will be taxed. So by doing landscape and keeping track of costs you can minimize your gain and escape from paying taxes.

Example:

Property Cost $150,000
Selling Price $550,000
Total Gain $400,000

So if you were single you would be taxed on $150,000 (400,000 - 250,000 = 150,000)

But if you had done $50,000 of improvments on the home (including landscaping) you would instead have only a $100,000 gain.

Answer 3

No... I wish!