Question

If I replaced windows, as well as built a mudroom onto our home, where do I enter that?

Forum|Forum|5 years ago
February 18, 2021
2 replies
0 views

No text available

TurboTax Self Employed Online

Employee

For your personal residence - nowhere on a tax return. It would add to the basis of your home to reduce capital gains when you sell.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

T

TomD8

Employee

But you might be able to claim a federal energy credit for the windows if they are EnergyStar qualified.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

RayW7

Renovation of a home is not generally an expense that can be deducted from your federal taxes.

If the home renovation is a home improvement, you can add the cost of the improvement to the basis of your home. By adding the cost of improvement to your basis, the gain on your property will decrease when you sell it.

You must keep records of any improvements made to your property. If the cost is a repair, you can’t deduct it nor add it to the basis of your home.