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Can you claim a tax deduction for expenses incurred in renovating a house prior to listing for sale?

  • November 29 2012 - US
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Answers (4)

Profile picture for user5718197
Thanks guys:   wetadawgs, Brian Tessier Gri and Ofe polack

I guess I am going to have to eat the renovation costs & hope to recover on the SALE PRICE.
 WE will see !!

Bruce-- in WASHINGTON STATE on the LEFT Coast
  • November 29 2012
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Profile picture for wetdawgs
Maintenance and repairs cannot be deducted.   If you make capital improvements (e.g. adding square footage) then you can add the addition costs to the cost basis of the residence.   You can learn more at www.irs.gov


  • November 29 2012
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Thanks for posting your question on Zillow.com!

I WISHED!  I flip houses and you cannot claim expenses (cost of renovating/improving property) legally anyway.

If you figure out how, let me know.
  • November 29 2012
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Profile picture for Ofe Polack
You may need to have a word with your accountant, was this maintenance that was overdue, did you expand the property...etc
  • November 29 2012
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