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2. Are Home Improvements Tax Deductible? - AOL

   www.aol.com/finance/home-improvements-tax...

   File Form 1040 on your individual income tax return or, if you’re a senior, use Form 1040-SR. Note that if you itemize your deductions, you won’t be able to take the standard deduction.

3. Can you deduct disaster losses? - AOL

   www.aol.com/finance/n-c-home-hit-hurricane...

   Deductible losses don’t include luxury upgrades during repairs or temporary relocation expenses. Read more: Jeff Bezos and Oprah Winfrey invest in this asset to keep their wealth safe — you ...

4. 11 Tax Deductions You Can Take If You Have Rental Income - AOL

   www.aol.com/11-tax-deductions-rental-income...

   Here’s a list of common tax deductions if you have rental income: Mortgage interest. Property tax. Operating expenses. Depreciation. Repairs, including materials and supplies. Interest. Taxes ...

5. Section 179 depreciation deduction - Wikipedia

   en.wikipedia.org/wiki/Section_179_depreciation...

   Under section 179(b)(1), the maximum deduction a taxpayer may take in a year is $1,040,000 for tax year 2020. Second, if a taxpayer places more than $2,000,000 worth of section 179 property into service during a single taxable year, the § 179 deduction is reduced, dollar for dollar, by the amount exceeding the $2,500,000 threshold, again as of ...

6. Federal roofing tax credit for energy efficiency - Wikipedia

   en.wikipedia.org/wiki/Federal_Roofing_Tax_Credit...

   The federal roofing tax credit for energy efficiency is dependent on the cost of the materials used in the renovation. A consumer could only receive a tax credit of up to 30% of the material cost, up to a maximum of $1,500. This credit is for funds spent on the energy-star approved materials, not on installation or labor cost.

7. Can You Deduct Homeowner’s Insurance on Your Taxes? - AOL

   www.aol.com/deduct-homeowner-insurance-taxes...

   Finding out which housing-related expenses are tax deductible is key if the goal is to save money. When you qualify for a tax deduction, you can subtract it from your income when filing taxes. By ...