Know the Tax Differences Between a Home Repair and Home Improvement

We homeowners love all the tax breaks the IRS gives us.

When we make improvements to our home, we can use those expenses to offset some taxes when selling.

Home repairs, unlike improvements, aren’t deductible at time of sale though.

Here’s a quick way to know which costs it’s possible for you to deduct.

These are classified as home improvements.

We’d like to deduct everything we think adds value to our home, but theIRS disagrees.

Tax differences between home repairs & home improvements| Don’t Mess With Taxes

Photo byKarin Dalziel.