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posted Nov 2, 2023 2:20:44 PM

Can I claim a failed septic in the first year of buying my first home?

septic system costed 30000

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1 Best answer
Level 15
Nov 2, 2023 2:34:11 PM

Replacing the septic system is an improvement to the property.  The cost of replacing the septic system is added to the basis of the home when the home is sold.  It cannot be used a tax deduction on your tax return.

1 Replies
Level 15
Nov 2, 2023 2:34:11 PM

Replacing the septic system is an improvement to the property.  The cost of replacing the septic system is added to the basis of the home when the home is sold.  It cannot be used a tax deduction on your tax return.