Thursday, July 26, 2012

Home Improvements

Use this List of Expenditures to help document additions to the cost of your home which will reduce the gain on the sale later on. Establish a permanent file which can be used to accumulate receipts for items on this list. (Includable in Tax Basis of Personal Residence).

OUTSIDE ADDITIONS & IMPROVEMENTS
Additional acreage or lots
Surveying of property
Additions to buildings: 
  Porch
  Wings
  Breezeway
  Garage
  Work shed or other outbuildings
  Aluminum/Vinyl siding
Roofing additions or replacement
Flashing
Terraces and patios
Cement staircase
Swimming pool
Septic tank or cesspool
Sewers-assessment & connection
Lamp post
Electrical outlets
Telephone outlets
Barbecue pit
Pathways & Walks
Driveway - paving, blacktopping, or gravel
Retaining walls
Fences and gates
Play yard
Clothes dryers
Waste collecting and burning apparatus
Mail box
Storm doors
Screens & screen doors
Termite proofing
Gutters, leaders, drain pipes and dry wells
Bird bath
Garden and grounds:
  Rototill soil
  Grading
  Topsoil & fill
  Fertilizers & condition
  Grass seed
  Plants, bulbs, seeds
  Trees
  Shrubs, bushes, vines
  Waterwell & pump
  Lawn sprinkler system
Trellis


INSIDE ADDITIONS & IMPROVEMENTS
Convert basement or attic into recreation room or bedroom
Inside walls:
  Altering and plastering
  Wood paneling
  Wall tiles
Room dividers & partitions
Ceiling (acoustical)
Replace or add stairs
Flooring - wood, tile, etc. linoleum
Cabinets, closet shelves, etc.
Bookcases & other built-in furniture
Cupboards
Closets
Fireplace mantel
Radiator covers
Ventilators
Window seats
Windows:
  Replacement
  Storm sash
  Weather stripping
Accessories and equipment:
  Kitchen:
    Counter tops
    Dishwasher
    Drain boards
    Food Freezer
    Garbage dispose
    Range
    Range hood
    Refrigerator
    Sinks

    Ventilator

INSIDE ADDITIONS & IMPROVEMENTS
   Laundry:
    Dryer
    Hot plate for boiling
    Ironer
    Mangle
    Sinks
    Tubs
    Ventilator
    Washing machine Hamper
    Linen chute
    Sorting table or counter
    Supply cabinets
    Drying racks
Bathrooms:
    Medicine cabinet
    Mirrors
    Shower cabinet
    Shower controls
    Towel racks
    Tub hanger
    Tub
    Bathtub sliding doors
Unit heater/Mechanical equipment:
    Heating & air conditioning
    Furnace and appurtenances
    Air conditioning
    Attic fan
    Boiler
    Circulating system
    Cooling equipment
    Fireplace heater
    Hot water heater
    Radiators & valves
    Space heater
    Warm air grills & register 

INSIDE ADDITIONS & IMPROVEMENTS
Electricity & lighting:
  Circuit boxes
  Fuse boxes
  Lightening rods
  Wiring system
  TV antenna & wiring
Plumbing & sanitation:
  Cold water pipe
  Copper tubing
  Floor drains
  Grease traps
  Hot water tank
  Hot water pipe
  Lawn sprinkling system
  Pumps
  Septic system
  Traps
  Vent pipe
  Water supply system
Hardware fixtures/locks:
  For cabinets/closets
  For doors
  For windows
  For curtains/draperies

Lighting fixtures
Communication:
  Call bells or chimes
  Intercom system
  Telephone raceways
  Fire or burglar alarm systems
Miscellaneous items:
  Dumbwaiter
  Garbage disposal
  Insulation:
    Ceilings
    Floors
    Pipe & duct
    Roof
    Walls

1 comment:

  1. Thank you very much for writing such an interesting article on this topic. This has really made me think and I hope to read more. WizKidz Tech

    ReplyDelete