ninasgramma
10-18-2007, 11:41 PM
Home improvements are not tax deductible, but they do receive tax benefits. When you improve your home and add to its value, the gain you will get from the improvements will not be taxed.But you do not get these benefits until you sell the home.
newjerseyguy
10-19-2007, 08:41 AM
Remember that only true home IMPROVEMENTS (i.e., building an addition, installing a new pool, etc.) can be added to the cost basis of your house. Simple repairs/remodeling work (new carpets, paint, furnace, bathroom remodels) are not "improvements" - they are just maintenance.