What and how much tax benefits can I take in a year before 2011 year ends?
My Situation : Living in one of the apartments in a 3 Family House. 2 Apartments are on rent.
What I have in Mind : Things I can buy from Home depot/Lowes etc. and show those receipts for doing my tax.
Is there a maximum amount I can buy in a year and can be used to buy tools etc. to get tax benefit?
Is there a maximum amount I can make repairs/improvements for in a year to get maximum tax benefit?
This is my first question and I am new, please go easy on my question.