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.
You will be informed of all aspects of your septic system, and knowledge may save you the cost of replacing your septic system. Inexpensive. You will spend under $100 on annual maintenance that will extend the life of your septic system. The cost of a new septic system ranges from $6,000-15,000 in todayâs dollars.Associates Soil Testing Inc provides septic system inspections and septic tank inspections throughout Walworth, Waukesha, Racine and Jefferson Counties.ou will be informed of all aspects of your septic system, and knowledge may save you the cost of replacing your septic system. Inexpensive. You will spend under $100 on annual maintenance that will extend the life of your septic system. The cost of a new septic system ranges from $6,000-15,000 in todayâs dollars.