Tag Archives: capital improvements

Record Capital Improvements Now

paper and pen to record capital improvementsThere is a significant difference in how the money you spend on your home is treated for income tax purposes.  Repairs to maintain your home’s condition are not deductible unlike those made by rental property owners that can be deducted as an operating expense.

On the other hand, capital improvements to a home will increase the basis and affect the gain when you sell which may save taxes.

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