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December 19, 2022
Question

How will my large ticket purchases be calculated on my 2022 tax return? I did a remodel and roof replacement.

  • December 19, 2022
  • 2 replies
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2 replies

DoninGA
Employee
December 19, 2022

If you are referring to improvements to your personal residence, not used as a rental or in a business, none of cost is entered on a tax return.

The cost of the improvements to your personal residence is added to the basis of the home when it is sold.

SusanY1
December 20, 2022

If you paid sales tax on the materials, and you are itemizing your deductions, you should go through the sales tax section of the deductions & credits portion of the program and enter your actual sales tax paid as it could increase your total itemized deductions.  

If you will be taking the Standard Deduction, these items won't affect your tax return.

The other potential tax item here would be related to credits for certain energy efficient home improvements, but only if any of your improvements were qualified. For more information on these credits, see this article on the energy tax credit. 

 

 

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