Can a new pool liner be written off?

[ThisIsTheYear]

Last year we bought a new pool liner that was $2500. Would that be considered a "home improvement"? We had our taxes done yesterday and I thought about it last night. Thanks!!

 

[WDWisTheBest]

Last year we bought a new pool liner that was $2500. Would that be considered a "home improvement"? We had our taxes done yesterday and I thought about it last night. Thanks!!

Ask your tax preparer.

 

[brerrabbit]

I would not think so. Home improvements in general are not deductable unless they qualify for the energy credits. I don't think a pool liner would meet that criteria. If you did it for a rental property there would be a case to write it off but otherwise I don't think you can do anything.

 

[Cheshire Figment]

No. Home improvements are not tax deductible.

However, when you sell the home you can add major imporvements to the basis to reduce the gain on sale.

 

[msmama]

I remember someone telling me that I could write off a new pool heater as "capital improvements" but I never did so (never replaced the heater either, lol).

Ask the tax guy.

 

[TheRatPack]

LOL, I wish. We just paid the money to order a new liner today.....2000 gone We have to pay for labor on top of that, and it's only been 4 years since we had a new liner installed. We have a floating problem though....so that's about the life of a liner around here.

 

[figment3258]

My husband is in both the pool and accounting business and says no unless it was damaged in a storm and then maybe

 

[ThisIsTheYear]

Thanks so much everyone! I'm clueless with this tax stuff!