Is the co-op apartment renovation cost tax deductible?
Is the co-op apartment renovation cost tax deductible?
Answers (2)
The full amount is not deductible, but any interest on the financing of the reno (through a home equity or additional mortgage) will be. The renovation itself as a capital improvement shouldn't be subject to sales tax.
FIRST ANSWER
If it was done with a home equity loan yes.
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