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Can home improvements be written off on my taxes?
My wife and I just began a pretty epic home renovation project. New deck, new roof. I’m curious about one thing, though. Can home improvements be written off on my taxes?
Nick Kunze · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Updating your house is exciting news. Home improvement is generally not tax deductible, although there are some exceptions.
Most general home improvements are not tax-deductible. However, specific renovations can be written off. A few tax-deductible renovations include:
- Installing solar panels or other green renovations.
- Home improvements are related to medical care, like making the home wheelchair-accessible.
- Improvements which are specifically for a home office.
- Improvements to increase your home’s resale value.
That said, before you decide to deduct anything from your taxes, you’ll want to meet with a tax professional. They can give you a better idea of what you can and can’t deduct from your home improvement project.
While you’re improving your home, you should also consider improving your
homeowners insurance
policy as well with Jerry
. A licensed broker, Jerry does all the hard work of finding cheap quotes from the top name-brand insurance companies and buying new home or renters insurance. Jerry will even help you cancel your old policy.And to ensure you always have the lowest rate, Jerry will send you new quotes every time your policy comes up for renewal, so you’re always getting the coverage you want at the best price. This level of service is why Jerry earned a 4.6/5 rating on the App Store and made it the top insurance app in the country.
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- Gregory R.
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