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Can I Claim House Painting On My Taxes
Can House Painting Costs Be Deducted On My Taxes?
So you're here wondering if you can somehow deduct the costs for exterior house painting on your yearly taxes? House painting is not an easy cost to swallow for many homeowners as it can easily skyrocket to several thousand dollars depending on the house size.
The downside is that normal exterior house painting is not tax deductible in most situations. If you are simply repainting your house for a new look and possibly some repairs, it does not qualify for a tax deduction.
The exception to this is when the house has been damaged by some natural disaster (or fire or something similar) that has insurance involved. Then, these situations are considered capital improvements on the house and some (or all) of the house painting costs could be tax deductible.
DISCLAIMER: WE ARE NOT TAX EXPERTS OR ACCOUNTANTS!!!!!!
Here at Milwaukee House Painters, we just want to stress that we are not tax professionals here. We are simply a small business of exterior painters. Please always consult with a true tax professional in answering these questions. Tax laws change frequently and this information may become outdated when you read it. We are not responsible for any negative impacts that may occur from any reader following our advice on this page. It's simply advice and should always be double checked by a tax professional.
What About For Rental Properties?
This is a great question. If you are using the property as a 100% rental unit, we've found that you can deduct the house painting on your taxes. This is because the rental unit is a part of an income source and thus gets taxed differently than a home you are living in. You should speak to a professional to confirm how the tax laws work in your state, but here in Milwaukee we've found that house painting can be deducted on rental properties.
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