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Did you replace bad/corrosive drywall in your home? You may be able to claim it on your tax return

Reblogger Pamela Stangler
Real Estate Agent with eXp Realty - The Stangler Group SL3253494

When it comes to tax deductions, every little bit helps.  Maybe the blog that Dave wrote will help you get a little more back on your taxes this year.

Original content by Dave Edwards

Tax season is here and that means all of us will be filing tax returns and claiming deductions, itemizing, etc.

On the IRS website one item that is new for this year is the following: "Corrosive drywall losses.   If you paid for repairs to your personal residence or household appliances because of corrosive drywall that was installed between 2001 and 2008, you may be able to deduct on line 20 those amounts paid. See Form 4684 and its instructions for details."

Many homes that have been built had drywall from China and elsewhere that was of poor quality. Talk to your accountant to see if you may qualify.

Read more at IRS.gov.

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Posted by

Pamela Stangler Realtor with eXp Realty.  Yourkeysrealtor@gmail.com, 305-433-1036.

Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Good choice for a reblog.  We can all use every penny we can squeeze BACK from the government!  They waste way too much of it. 

Jan 05, 2011 07:12 AM
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

I wonder how many people remodeled their homes and will now take that deduction. Chinese drywall was only a problem in some areas, like in Florida. Seems it never made it to San Diego. I wonder if the IRS will pick up on a tax return coming from here that claims Chinese drywall damage.

Jan 05, 2011 07:25 AM