🚀 go-pugleaf

In article <1993Jan7.171003.2485@news.eng.convex.com> dodson@convex.COM (Dave Dodson) writes:
>In article <1ih8m3INNhf@cronkite.Central.Sun.COM> dbernard@clesun.Central.Sun.COM writes:
>>Also, the real estate salesperson said that the cost of capital improvements
>>(ie, things attached to the house) were also deductable- like putting in 
>>new light fixtures, or attaching permanent window coverings.  Is this also 
>>true?
>
>Not exactly.  Improvements add to the basis of your house.  They decrease your
>capital gain (if any) when you sell.  Until then, they do not affect your
>taxes, but hopefully will improve your enjoyment of your house.

Ok, what about a situation like this:

I have my house built; because I'm a handy type of fellow, I only 
have the professional people come in and do foundation, shell, windows,
roof, plumbing, and electrical work.

I do everything else (drywall, painting, trim carpentry, carpeting,
kitchen cabinets, bathroom fixtures, etc.) myself.

I know that this:
a) reduces my mortgage (since I only need a loan to cover what the
   professionals do)
b) takes longer to do the house (hence need better wife relations)

Are the things that I do considered "improvements", and hence
subtractable from the capital gain when I sell?  Suppose I then
buy a new house, using the proceeds from the first one?

Can I deduct expenses on the house, since they're kind of necessary
to make the house livable?

[This is a serious question.  I am considering doing just this, and
am wondering if it is more realistic to get a loan to cover the
cost of the purchases for the work that I do, separate from the 
mortgage for what the professionals do.  Then again, should I
just make a massive mortgage for everything?  Hmm.]

Bill