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Updated about 4 years ago on . Most recent reply presented by

Chad S.'s profile image
Chad S.'s profile image
Chad S.
  • from Rochester, Michigan
  • Member since Feb 17, 2014

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Chad S.'s profile image
Chad S.'s profile image
Chad S.
  • from Rochester, Michigan
  • Member since Feb 17, 2014
Chad S.
  • Rochester, MI
50
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88
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Tax, SDIRAs & Cost Segregation

Deducting a new septic system.

Chad S.
  • Rochester, MI
Posted

I have a septic system that has failed and needs to be replaced.

Could I deduct this as a repair instead of a improvement, since I have no choice but to replace it?

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Paul Ewing's profile image
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Paul Ewing
  • Investor
  • from Boyd, Texas
  • Member since Jul 29, 2014

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Paul Ewing's profile image
Paul Ewing's profile image
Paul Ewing
  • Investor
  • from Boyd, Texas
  • Member since Jul 29, 2014
Paul Ewing
  • Investor
  • Boyd, TX
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Paul Ewing
  • Investor
  • Boyd, TX
Replied

Not a CPA but my understanding is that it is the same as replacing any other improvement like HVAC system or roof.  You have to depreciate it out. 

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