Can I deduct a septic system on my taxes?
I had to replace my entire septic system on my house in Feb 2006, because it was not up to code. They said they could condemn my house if I didn't fix it. It cost $4000. Can I deduct the $4000 since it was a required repair to bring my house back up to code?
Public Comments
- Yes But only the first 375# of Crap
- I would. It was a upgrade to the house.
- nope....(we have one too....had to be re-done...no dice on the money...)
- No. If that were the case, then when the city was going to issue my neighbor a fine, for grass being too tall, and not to code, then he could deduct the cost of a lawn mower and the gasoline. But check with a Tax Agency anyhow. They can weasle somthing for you.
- Yes, and in some state the state will give you some money.
- Yes you can deduct that kind of expense....but you'll need to check with your locales deductible limits...
- yes, under miscellaneous SHI T
- check this out it the IRS giving you an answer; http://www.realtax.com/investors/userepairs.html
- No, not for a house you live in. A septic system is no different from repairing the roof. It is a capital expense, and it is not deductible. The government requires you to keep your septic system running to make sure that it holds the waste; otherwise it could leak out onto someone else's land. It's just a cost of having a house. (If this is a rental property, you can deduct it as a business expense, but it sounds like you are talking about the house you live in.) I know you were hoping for another answer, but you are better off knowing the truth. You don't want the IRS after you on top of the septic tank expense. Good luck!!
- You can deduct any household improvements especially something that had to be updated. I had to update my plumbing and my electrical and my CPA claimed those as deductions. Just keep a file of all your receipts.
- Alas , I doubt any home maintenance is deductible unless it is rental property which it then becomes a business expense that goes against the rental income, but for sure check THE guys http://www.irs.gov/ go through the 1040 deduction instructions, maybe on Schedule A ?
- Are you serious?Related tax information about home repairs and home improvements Tax Directory Topics: Itemized Tax Deductions IRS publications about home repairs or home improvements: For a list of some other examples of home improvements, refer to IRS Publication 523, Selling Your Home. Also see IRS Publication 551, Basis of Assets and IRS Publication 17, Your Federal Income Tax. Please read this IMPORTANT Editor's Note regarding navigating IRS publications with Adobe Acrobat Reader. IRS publications can also be ordered by calling 1-800-829-3676.
- I doubt it unless it was a rental property, then it would be a business expense. Check with IRS though!
- Regular home maintainence isn't deductable.....unless it was upgraded to be bigger than the previous...it could be looked at as an improvement.
- You can deduct the cost of repairs to your rental property. You cannot deduct the cost of improvements
- prob not.
- No, a repair isn't deductible, whether the city requires it or not. It's a personal expense. If the property is rental property and not the house you live in, then you probably could.
