When Does a Renovation Count as Capital Improvement?
How can you tell if a home remodeling project counts as a capital improvement to your home? Well, it isn’t as straightforward as you might think. A capital improvement is supposed to accomplish one of these three functions: increase the value of your property, extend its lifespan or repurpose it for a new function. Permanent Additions According to the IRS, for a renovation to be classified as a capital home[...]Read More