How to Claim? Or Can I Claim?

[littlefriends]

I had to have a really big area of sewer line dug up and replaced which included a large chunk of my yard, driveway, and sidewalk. When all was said and done the total cost was $12,000, which I am now making loan payments of $300 per month to pay off. Can I claim this this year? Do I have to have it paid off to claim it? Am I allowed to claim any of it??

[Michael]

I would think you would use the time space percentage for your deduction. Here are some previous posts on deducting home repairs: https://www.daycare.com/forum/tags.p...tion+-+repairs

[TomCopeland]

Land improvement

I had to have a really big area of sewer line dug up and replaced which included a large chunk of my yard, driveway, and sidewalk. When all was said and done the total cost was $12,000, which I am now making loan payments of $300 per month to pay off. Can I claim this this year? Do I have to have it paid off to claim it? Am I allowed to claim any of it??

The new tax law allows you to deduct the business portion of the $12,000 in one year, no depreciation. Even though you haven't paid it off. You can also deduct the business portion of the interest each year.

[littlefriends]

Thanks!!