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conason1
June 3, 2019
Question

Can I get credit for foundation repairs and waterproofing my cellar? It is a lifetime guarantee.

  • June 3, 2019
  • 1 reply
  • 0 views
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1 reply

KrisD15
KrisD15
June 3, 2019

No, if this is not a rental, there is no deduction or credit for the improvements. You can add this to your basis (property value) when you sell which could reduce the capital gains you may need to claim. 

If this is a rental, add it as an improvement (asset). 

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