Unfortunately, if mold remediation is part of a home-wide renovation plan, then capitalizing on the cost rather than deducting it from your taxes at the end of the year is required. The tax law provides an immediate deduction for repairs, but requires that improvements and improvements be capitalized and depreciated. Although mold remediation costs are often deductible for businesses, homeowners may not be able to deduct similar expenses unless the mold appeared after a major natural disaster. In general, the main thing that comes with the mold removal tax deduction is that it is not a renovation or restoration but a repair, since mold causes damage.
While most businesses can deduct mold removal costs on their tax return, most homeowners can't take a federal tax deduction for mold removal costs.