Hi,
I'm filling in my american tax return.
I own a flat that I partly renovated myself before putting it up for rent.
I purchased materials for the renovation and I believe I can deduct that from the income I get by renting the flat.
But could anyone tell me whether I can deduct an amount for the work that I have done myself ?
If yes, could you tell me how to estimate the amount to charge for my DYI work?
Cheers,
Tim
I'm filling in my american tax return.
I own a flat that I partly renovated myself before putting it up for rent.
I purchased materials for the renovation and I believe I can deduct that from the income I get by renting the flat.
But could anyone tell me whether I can deduct an amount for the work that I have done myself ?
If yes, could you tell me how to estimate the amount to charge for my DYI work?
Cheers,
Tim