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.
The cost of a new septic system will vary around the country according to local labor and material rates.There are three kinds of costs associated with a new septic system: the original installation costs, the maintenance and repair costs, and the replacement costs if things go wrong.nnual costs for multiple-household systems are typically $200 to $1500 per household. Lifetime Costs: The typical total cost for a new septic system over a 20 year period is $6,300 to $13,000 for trenches and mounds, or $13,500 to $32,000 for alternative treatment systems.