I assume the foundation work was done on rental property. In this case, depending on various factors, it may have to be capitalized and depreciated.
i assume the useful life of the work is more than 12 months so the De Minimis Safe Harbor Election is not available.
Generally amounts paid that result in an improvement must be capitalized.
the rules are contained in REG 1.263(a)(3)(j) thru (l)
(j) betterments
(k) restoration
(l) new use
Becuase of all the exaples i posting a link to the reg
https://www.law.cornell.edu/cfr/text/26/1.263(a)-3
there is another safe harbor if your gross receipts are $10,000,000 or less. This allows the taxpayer to not capitalize improvements to an eligible building property if the total paid during the year for all repairs, maintenance, improvements, and similar activities performed on the building does not exceed the lesser of [REG 1.263(a)-3(h)]
1) $10,000 or
2) 2% of the unadjusted basis of the building
