Is changing carpet in the entire house considered a major renovation? US Taxes?
We changed carpeting for the entire home last year (2007) – about 1400 sqft. Does IRS consider this a major renovation or repair? I am considering taking a deduction on the sales tax paid in my itemization – for ‘Major Renovations or Repairs’.
Thanks
Sai
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Tagged as: carpeting · irs · itemization · renovation · renovations · sales tax · sqft
For your primary residence? No. Carpeting is considered a "wearable" part.
If the upgrade does not increase the value of the property (like replacing it with hardwood), then it does not qualify. The rule of thumb is that if it requires a Work permit, it qualifies. If you don’t need a permit, then it won’t qualify. In other words, some one is going to get your money, either the town or the feds. But, not necessarily both.
not repair, but i’d say you could squeeze it into rennovation, however i believe their is a minimum cost issue.
No, replacing the carpet is a normal wear and tear type of thing. A major renovation would be adding another bathroom or a new kitchen. It is considered home beautification because new carpet is not a "must" like maybe a bathroom or new roof would be.