Deducting Home Improvements

[khopkins21]

Is maintenance/improvements made to the home a deductible expense (i.e. new siding, privacy fence, etc.)? If so, what are the guidelines related to this type of deduction.

[DaveO]

Assuming this is a personal residence

Occupied by the owner improvments are not deductible. Certain energy credits are available for windows, doors and energy efficient HVAC and water heaters.

[Peachie]

Siding, privacy fence

I would think, as a personal residence, the improvements that you speak of would get added to the basis of the property except for those things that may qualify for energy credit.
Peachie

[ChEAr$]

And......

I would think, as a personal residence, the improvements that you speak of would get added to the basis of the property except for those things that may qualify for energy credit.
Peachie

even those get added to the basis minus of course the applicable credit taken.

[Peachie]

Oops! That's what I meant.

Thanks, ChEAr$. I read and reread my post before posting and I still flubbed it :-)).

Peachie