Is Tree Removal Tax Deductible?
Tree removal on your property is not a cheap expense. The size of your tree will affect the price, but you can expect to pay between $150 to $1,500 for tree removal services. In addition, smaller stumps are no stranger to high costs.
Can I Deduct Tree Removal from My Taxes?
The ability to deduct tree removal on your taxes depends on a variety of factors such as the reason for the removal, the type of residence, and who cut and removed the tree.
Type of Residence
If the tree removal was on your primary residence, then it is less likely to be tax deductible. However, if it was on investment property, such as rental home you own, then there is a higher probability that it can be deducted.
Reasons for Tree Removal
For the task to be tax deductible, there must be a specific reason why the tree was removed. For example, if the tree is causing new damage to your property such as to a roof or it is diseased, then you can claim the tax deduction. You may also be able to deduct for tree removal due to storm-related damage or even man-made events such as the tree being hit by a vehicle. Unfortunately, if there is no apparent and potential damage to the tree, but you still choose to remove it, the tree removal cannot be deducted from your taxes.
Who Cut and Removed the Tree
Additionally, to claim the tree removal as a tax deduction, a professional must cut and remove the tree, you cannot do the job yourself. However, it is wise to hire a professional as they have the right equipment, training, and expertise to handle such extensive and dangerous jobs. Additionally, they can assist you with many of the questions and concerns you may have.
Next Steps for Claiming Your Tree Removal
To ensure you get the most out of our tax deduction, speak with a tax professional who can help you with your specific situation.