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Updated over 8 years ago on .
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Claiming improvements on your taxes
hello BP, question about doing my taxes this year.. I bought a duplex and took out a 20,000 loan to fix it up.. I would like to buy another property this year and need every penny of income to help show the bank to qualify. My question is should I claim the 20,000 that I used to fix the house and if I do will it somehow lower my income on my schedule A?
Thanks
Ryan