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Updated over 7 years ago,
Tax Implications of Free Weatherization of Home
Hi All,
I am planning on moving forward with an organization called "Citizens for Citizens" to perform some weatherization on my home with a cost of around $10,000. This cost comes out of government funds, etc. Myself, or my tenants, will be responsible for $0 of the amount it costs to perform this work. It seems like a great deal, with no real "catch".
My question is, will there be any tax implications on my end to allow this "free" work to be performed, other than property taxes possibly increasing due to it (although I'm not sure they even would). I honestly have no experience with this stuff.
I'm just thinking "Hey these guys are going to perform work on my property that would typically cost me over $10k, and I don't have to give them a dime, so maybe this will impact my taxes?"
Thoughts?