taxe deduction for renovations

From: David Bryan <dbryan@MAIL.JUS.STATE.NC.US>
Subject: taxe deduction for renovations
Date: 25 Jan 1999 09:42:12 -0700

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I live in NC and would like to hear from anyone who is knowledgable on
the following situation. Is money spent for home renovations [$65K] tax
deductible? The renovations were performed in 1997 and 1998. If
deductible, is it 100% deductible and in what year? The check for
payment was written in 1998. Or, is a deduction only good when the
property is sold? Thanks for any help. David    



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