Improvements

Description and Definition of Improvements

The expenses of permanently upgrading your property as compared to maintaining or repairing it. You add the cost of the improvements to the basis of the property instead of taking a deduction for the cost of the improvements in the year paid. If the property you improved is a building that is being depreciated you must depreciate the improvements over the same useful life as the building.

Resources

See Also

Further Reading

• Improvements in the West's Tax Law Dictionary
• Improvements in “A Dictionary of Taxation”