Submitted By: someone
Answered: April 21, 2017 8:56 am

In 2016 I installed a screen enclosure and three new sliding doors in my home. Is the cost tax deductible?

If the replacement doors constitute an energy-saving improvement, you may qualify for a tax credit (not a deduction) of up to $500. This dollar limit is lifetime, so if you’ve already used up the full credit, you can’t take it again even though the improvements would otherwise qualify for it. Be sure to add the cost of these capital improvements (minus any tax credit) to the basis of your home. It will help to minimize gain when you eventually sell it. Note that this tax credit expired at the end of 2016 and it is not clear if Congress will revive it for 2017.

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Tax Glossary

Straight-line method

A method of depreciating the cost of a depreciable asset on a pro rata basis over its cost recovery period.

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