Home Buying in 37013>Question Details

greg.hebert, Home Buyer in Las Vegas, NV

I have a home.It needs work to get top $ as a rental property. If I fix it up prior to the new tennents moving in are the improvements tax deductible

Asked by greg.hebert, Las Vegas, NV Tue Feb 26, 2013

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3
I have some experience in building and contracting, and I can definitively say that yes, some of your expenses can be tax deductible!

There are many state and federal plans available which allow you to take certain expenditures for home improvements off your taxes. These are primarily related to those expenditures which increase your home's energy-efficiency.

If you have any other questions, please feel free to contact me here on Trulia or at my website!
0 votes Thank Flag Link Sat Apr 20, 2013
I agree with Ron, this is a question for your CPA or tax expert.
0 votes Thank Flag Link Tue Feb 26, 2013
Normally, we don't answer Tax questions; we leave that for your Tax person.
Without fear of reprisal, I can say;
Save every receipt you can, virtually everything related to that rental is deductible.
But, you really should talk to your Tax person!
0 votes Thank Flag Link Tue Feb 26, 2013
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