1remodel480320-1

Can I deduct home improvement expenses?

Single family home, live with mom. I'm paying for a new fence for our front yard. New York City resident.

Both our names are on the deed so technically I'm a co-owner. Does that make a difference?

Home improvements can be deducted on a rental or investment property.

If a house is your primary residence (if you are a sole or part owner) home improvements can be deducted, if they are made withing 6 months prior to the sale of the home (you are improving it for sale.)

If you are not part owner, only the owner can claim deductions.

If the house is not sold withing 6 months after improvements (the improvements were done just to improve) nobody can deduct.

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