Are home improvements tax deductible?

 One of our topics on last weeks Your Safe Money Show was about home improvements being tax deductible. One of the questions was: Are home improvements tax deductible? Generally, most home improvements, especially cosmetic ones, aren’t tax deductible. However, the IRS does offer some tax benefits for certain capital improvements, such as renovating your home office or a space you rent, making energy-efficient improvements or making changes due to a medical condition. But as I said you need to know that whatever the improvement is you can't deduct the cost in the year you spend the money. But, if you keep track of those expenses, they may help you reduce your taxes in the year you sell your house. To hear the segment on this topic go to yoursafemoneyshow.com.