Can you deduct property improvements on your taxes?

Answer You cannot deduct property improvements on your tax return. However, you may qualify for a tax credit, not deduction, if you make energy efficient improvements to your home. The American Recovery a... Read More »

Top Q&A For: Can you deduct property improvements on your taxes

How to Deduct Property Taxes Without Itemizing?

The Internal Revenue Service allows taxpayers to claim a deduction for a limited amount of real estate taxes without itemizing their deductions. This deduction is added to the standard deduction am... Read More »

Repairs Vs. Improvements When Doing Taxes?

At the end of the year, both small businesses and individual taxpayers must differentiate between whether a repair or an improvement was made to buildings and equipment. This has a direct effect on... Read More »

Can you claim home improvements on taxes?

According to the Internal Revenue Service (IRS), a home improvement is a project that adds additional value to your home, such as a new pool, new windows or even an add-on room.Loan InterestIf you ... Read More »

Can I deduct any of my FSA on taxes?

A flexible spending account (FSA) reimburses out-of-pocket medical expenses and contributions are made from your pre-tax wages. According to the FSAFEDS Program, you may not claim on your tax retur... Read More »