Note: If you use the donor's adjusted basis for figuring a gain and get a loss, and then use the FMV for figuring a loss and get a gain, you have neither a gain nor loss on the sale or disposition of the property.
In Massachusetts you can get up to a 40% tax credit towards the cost of repair or replacement of your septic system provided the cost is $15,000 or less. The Commonwealth provides a state tax credit of up to $6,000 spread out over 4 years to defray the cost of septic repairs to a primary residence.hen it does come time to replace the system, the cost is anywhere from $10,000 to $30,000 or more, so if youâre buying or selling a home with a septic system here are a few tips you should know: Home buyers should know that home inspections donât include a septic system inspection, also known as a Title 5 Inspection.
Best Answer: It will cost up to $5000.00 to replace your septic system. Most likely all is needed is to replace drain field lines which you should done for 2500 to 3000 this price varies call and ask several contractors in your area.here are many variables in installing a septic system. Costs vary from state to state and from county to county. It really depends on what part of the country you live in, how much of the system you need to replace, how much space you have for a replacement system, etc.