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Does the replacement of cast iron pipes to pvc for main line and under a rental property single residence be considered an asset or repair?

Cost was $17,700
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1 Best answer

Accepted Solutions
AmyC
Employee Tax Expert

Does the replacement of cast iron pipes to pvc for main line and under a rental property single residence be considered an asset or repair?

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.

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1 Reply
AmyC
Employee Tax Expert

Does the replacement of cast iron pipes to pvc for main line and under a rental property single residence be considered an asset or repair?

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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