You'll need to sign in or create an account to connect with an expert.
Replacing the main line is an asset. The IRS would consider that a betterment as it increased the qualify and efficiency of the system and extends the life of the plumbing system. You will need to depreciate it.
Replacing the main line is an asset. The IRS would consider that a betterment as it increased the qualify and efficiency of the system and extends the life of the plumbing system. You will need to depreciate it.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
detriamoore
New Member
mdance5
New Member
peakpeaktan01
Returning Member
jancoleen
New Member
abtb00
Level 3