Quote:
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!
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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.