Pressure tank quickly loses pressure. It drop from 60psi to 40psi in about 30 seconds. The pump kick on for about 5 seconds and pressure returns to 60 psi. then the process is repeated over and over

Is this a pressure tank or a bladder tank?

Water is running when this happens? Depending on volume of water being used, this could be normal. 5 seconds is short however, so you may have a waterlogged tank.

Is this a pressure tank or a bladder tank?

Bladder tank about 10yrs old

Water is running when this happens? Depending on volume of water being used, this could be normal. 5 seconds is short however, so you may have a waterlogged tank.

No

No water running

Leak in piping between well and house, leaking foot valve if so equipped. Even with a bad bladder tank it won't cause pump to cycle when no water in use. Shut off water to house. What happens. If nothing, it is in the well piping or pump. Submersible pump?

Leak in piping between well and house, leaking foot valve if so equipped. Even with a bad bladder tank it won't cause pump to cycle when no water in use. Shut off water to house. What happens. If nothing, it is in the well piping or pump. Submersible pump?

Submersible pump, no indication of leaking water at ground level, when I turned power off to the pump it slowly lost pressure. Would a water logged water heater have anything to do with it.

Leak in piping between well and house, leaking foot valve if so equipped. Even with a bad bladder tank it won't cause pump to cycle when no water in use. Shut off water to house. What happens. If nothing, it is in the well piping or pump. Submersible pump?

I think your right, its been raining here everyday lately, I believe there is an area that is has more mud than the rest of the area. Thank you very much

Sounds like a ruptured bladder, which resulted in a water logged tank. That combined with a leaking foot valve would cause pump cycling.

Press valve stem on tank to see if you get water or air.

Water heater not a factor here.

submersible pump, no indication of leaking water at ground level, when I turned power off to the pump it slowly lost pressure. Would a water logged water heater have anything to do with it.

Water logged water heater? No.

If you are losing pressure when you are NOT using water, then you have a leak somewhere, most likely a checkvalve. If it was leaking somewhere between the tank and the house, you would probably have noticed it by now. Could also be a leaking wellpipe, but it would have to be a major breach to lose pressure in only thirty seconds.

If it can pump back up to cut off pressure in only five seconds, then I'd also suspect the tank has a problem, especially considering that it does have some age on it, but I'd address the CV first. You can install a new CV above ground. Not the best solution, but it will work.

As has been stated, the water heater has nothing to do with it. No such thing as a waterlogged water heater since they are not supposed to have air in them to begin with.