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According to Brian Petranick, the group president of Neighborly, this applies to home renovations, too. Ashley Chalmers is a life-style professional and writer with over a decade of expertise touring the world and translating her adventures into decor. She makes a speciality of writing about farmhouse decor, small area organizing, and concrete residing. Instead of paying taxes on capital gains of $200,000 (sale worth of $500,000 minus purchase value of $300,000 equals $200,000), you’ll solely have to pay taxes on capital features of $150,000. Capital improvements differ from regular home repairs as a…
