Right now, I am renting my house while I am out of the country, which means that any renovations I do while renting will be tax-deductible. This is making me lean towards having some of the windows replaced, which it desperately needs.
The complication is that my long-term plan involves residing the house with brick on the first floor and claps above. Currently the house is stucco. The question is then, can I replace the windows now and have them work with the reside job in the future, or would all the windows need to be reset? Can anyone offer a procedure to do windows first and siding later?
Thanks in advance
Roger
Close enough for government work
Replies
I don't have an answer for your question, but renovations (captial improvments) are not deductable.
You add them to the cost basis and depreciate them. 27 year period I think.
Ummm... I hope that the fact that it is in Canada changes things.
cheers,
RogerClose enough for government work