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Ask HTM - Buying New or Used Cars in a Crazy Market, Stocks vs Real estate, & Converting or Rolling Over a 401k #580

How to Money

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Can You Deduct Renovations on Your Taxes?

Renovations don't typically qualify as maintenance. Instead, they're considered to be improvements, which you are able to depreciate on your taxes over the years but can't deduct those expenses. You probably want to wait until you move in because the ability to have, and I mean, this is a home that you're retiring into. And so there are so many additional factors that you do want to keep in mind.

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