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Author: LuluB Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 124795  
Subject: Is This Tax Deductible? Date: 10/2/2002 10:29 AM
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I have had some home repairs done this year (not quite done, but hope to be done soon).

I had sewage backup in my basement and some of the repair was covered under my HOI (Home Owner's Insurance). I had my sewage lines replaced, my basement dug up and pipes replaced under the concrete floor, downstairs bathroom dug open and drywall repaired (only pipes done so far, the rest will hopefully be done soon), upstairs bedroom dug open so pipes could be replaced, drywall will be repaired upstairs and entire room will be repainted.

I've kept everything from each contractor, copies of what I paid out, and what was reimbursed through HOI.

My total money out so far has been around $17,000
HOI has given me just about $9,000

I still have more to be done, not all of which will be covered by HOI. Such as the one basement wall that was bowed due to water damage. I have to have the wall repaired (drywalled and painted).

Is any of my portion tax deductible? These repairs do improve the value of my house.

Any input would be welcome.

Thanks a lot!

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