Deductions for self performed work

[Chris C.]

Why can I fully deduction the cost to cut down a tree, but if I buy a chainsaw myself, I can't fully deduct the cost of the chainsaw? Or my time for that matter

[Ashish Acharya]

@Chris C., you can probably deduct the cost of  the chainsaw if you are going to not use it for personal purpose.

One of the core tax concept is for every deduction there has to be income.

You cost of the chainsaw is income for the store, so you got the deduction. 

Where as, your time spent is not an income to anyone.

It’s a same concept as you can’t take charitable deduction for the hours you volunteered.