Awasome Irs Home Improvement Tax Deductions 2015 Ideas. Credits can reduce the amount of tax you owe or increase your tax refund. The year you renovate or improve your home, you cannot use those expenses as tax deductions.

According to the irs, capital. And the idea is that any improvements you make to the house while keeping profits reduce it,. If you use part of your home exclusively and regularly for conducting business, you may be able to deduct expenses such as mortgage interest, insurance, utilities, repairs, and.