Taxpayer asks:
Taxgirl, where do you deduct expenses for fixing your home? My neighbor said that I can take off the cost of fixing my roof on my taxes but I don’t know where to put it.
Taxgirl says:
Hmm. I’m not sure that you should be getting your tax advice from your neighbor.
Generally, repairs to your primary residence are not tax deductible. There are some exceptions to this rule, depending upon your personal circumstances, such as:
1, If you claim a home office deduction, you may be able to take a pro rated deduction for home repairs.
2, If you rent out part of your home, you may be able to take home repair expenses related to the rental.
3, If you are making a repair subject to the casualty/loss rules, there may be an adjustment (though technically speaking, the cost of repairing damaged property is not part of a casualty loss – but you may be able use the cost of cleaning up or of making repairs after a casualty as a measure of the decrease in FMV).
Repairs to your home may affect your basis for purposes of calculating a gain or a loss at sale, but your run of the mill home repair expense – even if significant – is not deductible on your federal income tax return.
Like any good lawyer, I need to add a disclaimer: Unfortunately, it is impossible to give comprehensive tax advice over the internet, no matter how well researched or written. Before relying on any information given on this site, contact a tax professional to discuss your particular situation.
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