Tax Deductible Home Improvement – Tax Guide 2022 (Video)

The housing boom increased in 2021 for a number of reasons, including the ongoing pandemic and an increasing number of people working from home. Spending and remodeling are expected to remain strong in 2022, with signs things could slow down by the end of the year, according to Harvard’s Leading Indicator of Remodeling Activity (LIRA).

But not all home improvement jobs are treated equally by the IRS.

Literature Recommendations: TurboTax advice on tax-deductible home improvement work

“For most people, home improvement is a personal expense and therefore not tax deductible,” says Jeffrey Levine, Chartered Accountant and Tax Specialist at Buckingham Strategic Wealth. But there are some exceptions.

.

Leave a Comment