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New Member
posted Apr 15, 2025 9:58:25 AM

Do I list repairs to my well under home repairs or under assets?

We had to replace the pump and tank for our well at our home last year and I am trying to figure out if it needs to be listed in the home repairs section or as an asset.

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3 Replies
Expert Alumni
Apr 15, 2025 10:02:31 AM

You cannot take a deduction for repairs to your home.  You can only claim expenses if it is a business or rental. 

New Member
Apr 18, 2025 7:45:11 AM

Turbo Tax actually asked the question and said that I could deduct a portion of repairs to my home since I have a home office.  But it also said that large renovations would count as an asset. 

Expert Alumni
Apr 18, 2025 7:56:39 AM

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.