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Financial Planning / Tax Strategies
|Subject: Re: Home Improvements: What costs can you capita||Date: 11/13/2012 6:44 PM|
|Author: TMFPMarti||Number: 116911 of 121803|
So none of these expenses matter to me?
There are much better informed voices on the board than mine, so pay heed to them. Of the things you listed in your OP the one thing I can think of that would IMO add to basis is the difference in cost between your wood floors and replacement carpeting. Everything else sounded like maintenance to me, which doesn't affect your taxes when it's a personal residence.
Rentals are a different story. If you do convert to rental somewhere down the road maintenance and repairs are deductible against rental income.
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