You add the cost of capital improvements to your tax basis in the house. ... you'll
be able to add the cost of an addition to the house, a swimming pool, a new roof
or a ... the first $250,000 of profit on the sale of your principal residence is tax-free
Tax rules let you add capital improvement expenses to the cost basis of your
home. ... For instance, if you replace a few shingles on your roof, it's a repair. ...
Now, suppose you've lived in your home as your main residence for at least two
out of the ... has written about personal finance for more than decade for Dow
What is the cost basis for my personal residence? ... Typical improvements in this
category would include: roof replacement, boiler, air conditioning compressor, ...
Sep 3, 2014 ... Tax saving home costs: My routine residential upkeep situation... ... and general
maintenance of your personal residence are nondeductible personal
expenditures. ... Replacing the whole roof is a capital home improvement.
Jan 10, 2015 ... Home Office Deduction Can Convert Personal Expenses into Business ...
Business portion of utility and maintenance costs can be deducted. ... place with
clients (who presumably view the lawn as they enter the residence.) .... For
example, if you put on a new roof or buy a new furnace for your home, you ...
Eligible repairs include painting the walls, fixing a hole in the wall, replacing
broken ... home improvements, such as new windows, a room addition, a new
roof and ... With your primary residence, you can deduct the cost of home
The cost of a roof installed on an owner's personal residence is not deductible as
an expense in the year the expense incurs, but rather added on to the initial ...
Mar 24, 2013 ... ... conditioning or putting on a new roof, that add value and prolong our house's
life. You can't necessarily deduct these costs, but you can add the price ... If you
move more than 50 miles to a new full-time job in the same line of ... of these
deductions only apply to a primary residence, and some deductions ...
Multiply your cost per share by the total number of outstanding shares. ... used to
pave a community parking lot, install a new roof, or pay the principal of the ...
The only costs you can deduct are real estate taxes actually paid to the taxing .....
If only a part of a loan is qualified principal residence indebtedness, you can .....
in new plumbing or wiring, installing a new roof, and paving your driveway.