Home improvement projects and major renovations are a great way to increase the value of your home, as well as get more enjoyment out of your day to day life. But if you go into a project hoping to claim your latest renovation as a home improvement tax deduction, you may be in for a bit of a let down.
The simple truth is, most home renovations do not qualify for home improvement deductions. The IRS is not willing to give you a break on your taxes for something that will also increase the value of your home and make you money if and when you decide to sell. That would be like your job paying you twice for one day of work. That is not to say, however, that there are no situations where reno