Claiming improvements on your taxes

[Ryan Keenan]

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

[Jana Cain]

You should also be allocating based on square footage, in the event one side is bigger than the other.