I paid to convert an existing residential rental house from well to municipality water in 2018.
I paid about $10,500 in fees to the municipality for extending the water to my property and installing a tap on my property.
I paid about $1,000 to get the water from the tap to inside my property.
I paid about $500 in other changes/upgrades necessary inside the home to accommodate this switch.
Do I just depreciate all these costs over the next 27.5 years?
I paid about $10,500 in fees to the municipality for extending the water to my property and installing a tap on my property.
I paid about $1,000 to get the water from the tap to inside my property.
I paid about $500 in other changes/upgrades necessary inside the home to accommodate this switch.
Do I just depreciate all these costs over the next 27.5 years?
Federal Taxes: Depreciating Costs to Convert Rental from Well to Municipality Water
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