Real Estate Community Forum

I am currently doing my taxes and someone told me that I should be able to deduct my home improvement expenses on my taxes. Some of the home improvement features include installing a new kitchen floor, two new windows for the kitchen and a new front door. I have all my receipts and I'm hoping I can deduct these expenses. Am I correct for assuming this?

We all wish we could claim home improvement expenses on our taxes, but the answer is no. You can however claim these expenses if you own rental property and you made improvements on it. Other people claim these expenses on their taxes if they have a home office or business.

In addition, improvements that add a room or added space are not deductible at the time of completion, but can be used to deduct profits at the time of sale. This is true even if you put shelves in a closet. So keep good records.

I think the answer is no.... but me too, all of us wish that we could claim home improvement expenses on our taxes....



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