Originally Posted by TaylorTots:
We are adding an addition to our driveway to increase parking availability for parents. Keep receipts and deduct?
If we do a large chunk of the work ourselves how does that figure in? If our labor can't be deducted we may just hire out.
Thanks!
Add up all the costs, multiply by your time-space% and deduct in one year as a repair. You can't deduct anything for your labor. If you pay someone to do the work you can deduct the time-space% of the the labor costs. Financially, you are better off doing the labor yourselves.