If you have a home office, that counts as a business. When you have a home office and repairs that affect the entire home, then you can take a prorated deduction. The well pump and tank replacement would be an asset and not a repair so you would list this as an asset. TurboTax will walk you through allocating the percentage that applies to the home office versus the entire home.
You can only get a deduction for a percentage of the improvement since the home office only makes up a percentage of your home. You cannot claim the full cost.
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