2006-11-02 09:09:05 · 3 answers · asked by Coop 2 in Business & Finance ➔ Taxes ➔ United States
It would qualify as home improvement, therefore, your cost basis would be increased buy the amount spend on the retrofit, which you could deduct at the time of sale.
2006-11-02 09:47:41 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I believe JV is correct for federal income tax purposes. The improvements would increase your basis ("cost") for the property. I don't know if California allows a deduction. I found no reference to 'earthquake' on the California Tax website.
2006-11-02 13:35:51 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
I have no theory if California handed that regulation or no longer in spite of the undeniable fact that it would be a great theory, might get extra people to undertake particularly than procuring from a puppy save or domestic dog mill. call the SPCA on your section, they're going to incredibly know if its a tax deduction out of your state earnings tax.
2016-11-27 00:09:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋