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March 27, 2024
Question

IRS PUblications says that maximum of 30% of total costs and no higher than $1,200 is allowable. But the updated version says is now $2,000amount is now $2,000 per year starting in 2023, Which is correct?

  • March 27, 2024
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    1 reply

    Critter-3
    March 27, 2024

    What home improvement are you entering on the form 5965?

     

    There are different rules for each section...look at lines 18 thru 20 :

    https://www.irs.gov/forms-pubs/about-form-5695