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Author: BobbysPapa Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121453  
Subject: New well dug- tax deductible? Date: 7/18/2012 4:42 PM
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Hi all! I live in NJ and recently my well went bad and I had to have another one dug. Total cost was about $5,150 out of pocket. I have an insurance claim in, but don't don't know how that will pan out.

Is this expense tax deductible? I was given, along with the bill, a notice to sign Form ST-8, Certificate of Exempt Capital Improvement. I am not sure what this means.

Thank you so much for your help!


Mike in NJ
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