Do I expense or capital cost replacing an electrical panel that used fuses with a new panel of the same total capacity that uses circuit breakers?

[juliusa-live-ca]

Cost of new panel had equipment portion and electrician's labour portion.

[TurboTaxSusan]

Circuit breakers protect against power overloads and short-circuiting, while fuse only protect against overloads, so a circuit breaker panel, as an improvement, would be considered a capital cost.