Bedford, NH Homeowner Has Questions
Homes that are used solely for personal use cannot have the cost of home improvement projects deducted. However, if down the road you sell your home for a profit the money paid for home deductions can be deducted from this profit. This ends up being less of a profit that will be taxed when the home is sold. If part of the home is used for business and this area is affected by the renovations, you can deduct 100% of this cost.