https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-deduct-a-water-well-i-drilled-at-my-rental-property/01/568047#M24234 <P>I drilled thinking it would benefit renter, but it was dry and I spent $10k to do it<BR /></P> Wed, 05 Jun 2019 18:42:12 GMT Dinky64 2019-06-05T18:42:12Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-deduct-a-water-well-i-drilled-at-my-rental-property/01/568047#M24234 <P>I drilled thinking it would benefit renter, but it was dry and I spent $10k to do it<BR /></P> Wed, 05 Jun 2019 18:42:12 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/can-i-deduct-a-water-well-i-drilled-at-my-rental-property/01/568047#M24234 Dinky64 2019-06-05T18:42:12Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/generally-a-water-well-is-a-land-improvement-and-deprecia/01/568053#M24237 <P>Generally a water well is a land improvement and depreciated 15 years.</P><P>If a test hole, dry hole, or dried-up well (resulting from prolonged lack of rain, for instance) is abandoned, you can deduct your unrecovered cost in the year of abandonment. Abandonment means that all economic benefits from the well are terminated. [Publication 225]<BR /></P> Wed, 05 Jun 2019 18:42:16 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/generally-a-water-well-is-a-land-improvement-and-deprecia/01/568053#M24237 view2 2019-06-05T18:42:16Z https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/where-in-turbotax-would-this-information-be-entered/01/568062#M24240 Where in turbotax would this information be entered? Wed, 05 Jun 2019 18:42:17 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/where-in-turbotax-would-this-information-be-entered/01/568062#M24240 jpappa 2019-06-05T18:42:17Z