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<The basic rule is that you have a medical deduction for the excess of cost vs. increase in value of the home. Much of what you're talking about doing will probably decrease, rather than increase the resale value>


Phil:

Are there any thresholds to cross in this process? IE: does the 7.5% exclusion apply here? Would it really be worth the effort for most people?

I am reminded of my many discussions with my CPA over the years when he touts that his fees are a deductable expense. I am usually quick to point out that more years than not I do not exceed the 2% misc exclusion, so the word deductable is kind of misleading. In this case the meaning for him is very different than it is for me.


BRG
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