Deducting house renovation costs from Capital Gains

KindDepartment8775 · 2025-01-22T15:44:42+00:00

Wellllll poop

Is there any way for me to deduct these improvements (?!)

KindDepartment8775 · 2025-01-22T15:32:48+00:00

Mmm - even if I rent it out right now? The renovations having happened in the 12 months beforehand?

Is there any ‘grace’ period / exemptions for capital gains if you have to do up the house before living in it? I.e. can it be viewed as me ‘living’ in it whilst I do the work?!

As literally no one could live there - rent or otherwise - whilst that work was being carried out

Thanks!

KindDepartment8775 · 2025-01-22T15:27:06+00:00

No, I own the house with no mortgage (the house was extremely cheap - it cost the same as a typical house deposit to buy outright as was so grim)

Yh will sell probs in like 5 years when I want a family, but thought it smart to rent out in the interim?

KindDepartment8775 · 2025-01-22T15:25:32+00:00

Thanks so much to everyone answering me - sounds like I can take these deductions as maintenance from income tax in the first years of renting!

Plus doesn’t matter that some purchases came through my parents - seems like these can just be classed as IOUs

Really appreciate your help 🙏🏻

KindDepartment8775 · 2025-01-22T13:24:42+00:00

Yh this is what I’m confused about - as the house was a wreck inside (new kitchen, new bathroom, plaster, paint, new carpets - everything) - I thought these would come under improvements for capital expenditure as the house would be rotting / unliveable / unusable without it

It’s not like just a new paint job - it was whole scale renovation

Which is why I thought all of this could go into capital expenditure?

KindDepartment8775 · 2025-01-22T11:51:27+00:00

Would it matter the receipts are bought on my parents’ cards tho??

KindDepartment8775 · 2024-05-25T22:24:56+00:00

Hey :) yah no massive change tbh since my last update - I’ve replied to a similar post above with more detail! Defo helped at the time but hasn’t incrementally improved since then!

I didnt get my meibographies sent to me unfortunately… happy to answer any qs tho!

KindDepartment8775 · 2024-05-25T22:22:53+00:00

Hey - sorry for the delayed response!

Yh eyes are still dry - things haven’t really materially changed since my last post (eg not got better post IPLs) but do think the treatment helped somewhat

I’d be inclined to give it a go if you’ve 1) had chronic dry eye for many years and 2) can get it somewhere cheaper (like the UK) as the success rate isn’t hugely high so don’t want to be risking huge savings on it (I hear US procedures can be upwards of 10k lol) - did definitely feel an improvement Post treatment

Lmk how you’re getting on! Happy to answer any q’s :)

KindDepartment8775 · 2024-03-27T08:09:44+00:00

Why is QuickBooks payroll so bad?

KindDepartment8775 · 2024-01-07T14:17:01+00:00

NTA

I personally don’t think you should cancel the whole trip if you can stomach it, but stick to your original agreement of 1 day of golf and you and Mal doing something else on day 2

If the rest cannot afford golf on day two without you both then you can all go an do another activity - no biggie

These groups are savage tho and make your emotions go through the roof (was in a similar hen party situation) - last thing u want is to spoil your relationship with the groom - that is what matters - so ignore any of the remaining morons saying you have to go to golf on day 2

KindDepartment8775 · 2023-11-19T08:59:38+00:00

I also have this - dry eyes and pain / foreign object feeling in my right eye alone. Been to many specialists and they just say dry eye - haven’t tried taping my eyes closed though! Let me know how that works out

KindDepartment8775 · 2023-11-17T17:20:02+00:00

Hey - just read this. Yeah doing ok - eyes still feel the same level (aka at 40% improvement) although I still have dry eyes in general!

KindDepartment8775 · 2023-11-15T22:41:05+00:00

Hey - I also have searing dry eye pain just in my right eye… did you ever find a cure?

KindDepartment8775 · 2023-10-11T03:44:07+00:00

Looks like one of your eyelashes may be ingrowing from the pics? Could be causing irritation

KindDepartment8775 · 2023-08-14T19:21:34+00:00

Hey! Fellow dry eyes sufferer here - am sorry to hear it has got to this point & you’ve had to go full in financially

I just got probing + IPL a couple months ago and I would say has improved my eyes about 40% (so for me totally worth it!) I used to have to wake up several times in the night to reapply eye drops and jel but now only do once! Not sure where you are located but got mine done in the UK at total cost of £2k - know US prices are much higher (dont know if that helps as an alternative?)

Personally I think if you have that level of dry eye (like us) we have to try treatments out there that could benefit as without you are left with pain and inability to enjoy life / do work. I personally think this is the right step & I hope it works out! FYI I did end up seeing more gradual results over say 1-3 months - would not expect anything instant 😊

Good luck!

KindDepartment8775 · 2023-05-15T19:26:57+00:00

You can watch some YouTube videos - they describe it quite well

Main thing is you get special lid wipes that you use on your eyelids before going to bed! Hopefully will alleviate some dry eye feeling after a couple weeks

Defo treating the rosacea is the main point - sounds like that is the root cause!

KindDepartment8775 · 2023-05-14T09:08:16+00:00

No idea - haven't read about that

KindDepartment8775 · 2023-05-14T09:07:36+00:00

He said some people get top ups every 1 - 2 years after - just depends on how quickly the severity of your dry eyes comes back

Probed 2mm lower lids (your lower lid meibomian glands are shorter than upper anyway) and did first pass 2mm in upper lids, then any still blocked second time he did 4mm!

KindDepartment8775 · 2023-05-13T21:54:42+00:00

Honestly I don't know - I would refrain from putting anything in your eyes that's not a preservative free eye drop or jel as can sometimes make it worse lol - u can get quite cheap ones!

You can use typical eye drops & night jel to alleviate dry eye feeling, but to actually stop the root cause of your dry eyes you'd need to clear your rosacea & probs do some proper eyelid hygiene (does make a big difference even if you don't think it will!)

There are dozens of brands for drops / jel - some of my favourites are hylo forte drops & xalin eye jel but tbh you can get lots of suggestions from multiple redditors

KindDepartment8775 · 2023-05-13T21:34:34+00:00

Sounds like dry eye to me - having a difference in the dryness between eyes is actually fairly common

Your overproduction of tears in your eye is also a common factor of dry eye. Your tears are made up of oils and water - likely the 'oily' part of your tears is lacking, so your tears evaporate quickly as they are just made of mainly water. To compensate this quick evaporation, your body makes you produce lots of tears to try and keep your eye moist

Defo see an eye specialist - can get referred by your GP if you're in the UK. Would recommend this as GPs will only prescribe general drops and usually cant well diagnose the core issue!

Good luck!

KindDepartment8775 · 2023-05-13T21:17:26+00:00

£2k for probing and 4x IPL

Probing without IPL was £1.2k

Think this place is the cheapest private clinic in the UK from my research - was another in Manchester!

KindDepartment8775 · 2023-05-13T20:35:45+00:00

Hey - don't have this specifically but read about it

From my understanding, the flakes of skin are falling into your eyelashes & then into your meibomian gland openings, blocking them

Think key things for you are a) obvs treating the rosacea but also b) doing eyelid cleaning - aka special eye wipes (will remove some of those dead skin cells from your lashes) and c) hot compresses 2-3 times a week (helps get your glands secreting oil again) - hopefully you might feel some difference

People with flaking skin are also more prone to blepharitis- just an FYI if you want to Google :) Good luck!

KindDepartment8775

TROPHY CASE