Tag Archives: every

When doing taxes can you deduct home improvement expenses every year or only the year you sell?

Question by Erin: When doing taxes can you deduct home improvement expenses every year or only the year you sell?
I was told that you could deduct home improvement expenses until the year you sold your house. Is this true?

Best answer:

Answer by dustoff
You don’t “deduct” them at all. When you sell, the cost of improvements can be used to adjust your acquisition cost basis – which will decrease any capital gain tax due.

Know better? Leave your own answer in the comments!