When can a parent deduct the child’s home renovation fees?


Which parent does not help their children?

Often parents also support their children by contributing financially to the costs of renovating the home.

When can a parent deduct the child’s home renovation fees?

Invest in real estate crowdfunding with the new Bridge Asset platform!Find out more “

The rules on the payments to be deducted for home renovation costs are very clear.

Those who want to take advantage of the deductions in the tax return must meet certain requirements.

The clarifications of the Revenue Agency

The Revenue Agency has clarified that tax deductions for home renovations are due by law:

– to the owners or holders of real rights on the buildings on which the renovation is being carried out,

– to the tenant or borrower,

-to the owner or naked owner,

– to the holder of a real right of enjoyment,

– to members of divided and undivided cooperatives and members of simple companies,

– to individual entrepreneurs, only for properties that are not included in the instrumental or merchandise ones.

When can a parent deduct the child’s home renovation fees?

In addition to the beneficiaries indicated above, the deductions are also due to other categories of people.

In fact, those who actually pay the jobs can take advantage of the tax deductions for home renovation.

As long as the person making the payment is also the holder of the bank transfer or invoices or payment receipts.

Imagine, therefore, a parent who pays for the renovation of his son’s home. Can you deduct expenses?

When it is possible to deduct expenses

The parent can deduct the child’s home renovation costs when:

– lives with his son

– has the house in usufruct or on loan for free use regardless of whether it is resident in the property

When expenses cannot be deducted

When, however, the parent does not live with the child and the house on which the renovation is being carried out is not in the availability of the parent, the latter cannot deduct the costs.


If I pay for my father’s medical examination with my ATM, will he be able to deduct the expense?

Source link


Please enter your comment!
Please enter your name here