Finishing our basement

[JJPlaycare]

We are finishing our basement and I am just wondering if you guys could give me some advice come tax time. My husband is doing all the work. We aren't solely finishing it for daycare. I do daycare in my home and once the basement is done, we just get more space. I am planning on making one of the bedrooms down there a toy room, but as far as the rest of it, its my home, but daycare will be down there. I am wondering how this all works come tax time? As far as all the supplies we are buying to finish the basement. Is this something I can write off? Any advice is appreciated Thank you

[SunshineMama]

We are finishing our basement and I am just wondering if you guys could give me some advice come tax time. My husband is doing all the work. We aren't solely finishing it for daycare. I do daycare in my home and once the basement is done, we just get more space. I am planning on making one of the bedrooms down there a toy room, but as far as the rest of it, its my home, but daycare will be down there. I am wondering how this all works come tax time? As far as all the supplies we are buying to finish the basement. Is this something I can write off? Any advice is appreciated Thank you

Yes, you can write off a portion of it if you use some for daycare. Keep all receipts