Tax Credit for Sewer Replacement in Brooklyn, NY?

I received a “Cease & Decease” order for my collapsed sewer for my house.  It was immediately completely replaced by a licensed Master Plumber (from just under the house to city sewer main, but no check valve installed).  At the end of the project, it was suggested to me that I can maybe receive a tax write-off for this expense.   Again, this is not a business but a private residence (but I am self-employed and work from home).    I saw something about the NYC J51 (tax abatement) mentioned, but I am in an area of Brooklyn which is not listed in the J51 guide. I think that this possible write-off has something to do with filing regular taxes. Anyone with ideas on what this may be?.

mystiky

in Accounting 12 years and 3 months ago

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mystiky | 12 years and 2 months ago

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Anyone else with any feedback on the above? My house is not a rental, as it’s a private 1 family house.

boredatwork | 12 years and 3 months ago

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I believe the only way you could write-off the expense would be if the property included rental units and produced rental income.  In that case, you can write off the portion of the maintenance attributable to the rentals.  Generally, there is no write-off for maintenance expenses for owner occupied homes.  J51 refers to property tax abatements and is not applicable here.  I am not familiar with the home office issue.  I think this expense is on you.