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betterbetter1
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Can I deduct electric panel replacement as repair/upgrade?

 
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3 Replies

Can I deduct electric panel replacement as repair/upgrade?

Was the electrical panel for your business or your home?

betterbetter1
Returning Member

Can I deduct electric panel replacement as repair/upgrade?

it was for my home

Can I deduct electric panel replacement as repair/upgrade?

repairs or upgrades to your personal residence are not deductible.  you haven't provided enough info for commenting on whether the replacement would add to your basis in your home. so why the replacement? what was the difference between the old and new? for example I would say replacing an old one using fuses with a new one using circuit breakers would be an upgrade adding to the home's basis. 

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