Remodel & Renovate in 11374>Question Details

Constantine, Other/Just Looking in Queens, NY

Is the co-op apartment renovation cost tax deductible?

Asked by Constantine, Queens, NY Sat Mar 14, 2009

Is the co-op apartment renovation cost tax deductible?

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2
SurvivingSONYMA’s answer
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.
0 votes Thank Flag Link Thu Aug 13, 2009
If it was done with a home equity loan yes.
0 votes Thank Flag Link Thu Mar 19, 2009
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