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D
Dhightower14
November 1, 2024
Question

rental property

  • November 1, 2024
  • 1 reply
  • 0 views

 i own a rental property that the roof is being replaced. Do I need any form from the roofer  inorder to claim it on taxes on 2024?

1 reply

DoninGA
DoninGA
Employee
November 1, 2024

All you need is the invoice for the cost of the roof and a copy of your proof of payment, either cancelled check, bank or credit card statement.  You keep those with your rental property records in case you are ever audited by the IRS.  

The roof replacement cost would be entered on your tax return as an asset for the rental property and is depreciated over 27.5 years.

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