Resubmitted with detail

[IreneS]

Yes - Based on the information you listed in your previous post (sorry, I don't know where it went) you should treat the work as a capital expense or improvement and depreciate it.  A capital improvement is defined as the addition of a permanent structural change or the restoration of some aspect of a property that will either enhance the property's overall value, increase its useful life or adapt it to new uses.

The foundation work and mold remediation would increase the useful life of the property and I would consider the work a capital improvement.

If you feel that strongly that it's a repair, you could always submit your return, treating it as an expense.  If the IRS disagrees, they'll let you know and you can defend your position.