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Tax Treatment of Renovations

[Updated: Nov 16, 2020 ] Oct 30, 2019 by Jean Folger

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Repairs (Deduct the Cost) Improvements (Depreciate the Cost)
Fix a broken air conditioner Add central air conditioning
Fix an appliance Install built-in appliances
Fix a broken doorknob Upgrade door hardware throughout the property
Replace a broken tile Install new tile in an entire room
Fix a broken windowpane Replace multiple windows
Have the carpets professionally cleaned Install new wall-to-wall carpet
Fix a leaky roof Replace the entire roof
Fix a leaky faucet Replace all existing plumbing
Fix a section of electric wiring Replace all existing wiring
Fix or replace a broken kitchen cabinet Renovate the kitchen
Refinish the wood floors Replace the wood floors
Paint a bedroom Paint as part of a renovation
Fix a security camera Install a security system

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