Profile picture for DeborahJenkins3

i replaced my roof and siding on my home is that tax deductible

  • February 17 2013 - US
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Answers (4)

Profile picture for wetdawgs
I hope you didn't go to the agent's hotlink before it was deleted by the Zillow moderator.  There were a lot of errors in their "tax advise".
  • February 17 2013
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Profile picture for wetdawgs
I hope you didn't go to the agent's hotlink before it was deleted by the Zillow moderator.  There were a lot of errors in their "tax advise".
  • February 17 2013
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Profile picture for wetdawgs
Some aspects of home repair and improvement add to the cost basis of your home, so when you sell may be helpful to minimize capital gains.

Publication 523 selling your home from the irs talks about items that may add to the cost basis on page 9.   Keep all receipts and records for the day you sell your home.

  • February 17 2013
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I'll disclose, I'm not a tax adviser or accountant, so it doesn't hurt to double check. To my understanding though, repairs and improvements on your personal residence are not tax deductible. If it is an investment property or business, it could be deductible.[hotlink deleted by Zillow moderator] that explains common home owner deductions and common rental owner deductions. 
  • February 17 2013
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