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Last year I forgot to include work on my rented house and to send a contractor the 1099-MISC. Can I add this expense this year?

Forum|Forum|7 years ago
June 1, 2019
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I’m renting out my home and declare the rent as income. I re-roofed the house in 2015 but forgot to add it to the expenses for the house. Can I add them now for 2016 and would I have to file a 1099-MISC for the contractor for this expense?

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Best answer by Hal_Al

You do not have to file a 1099-misc to the contractor. That requirement was rescinded a few years ago.

You cannot add the cost to your 2016 return. You have to file an amended return for 2015.

A cost of a new roof cannot usually be deducted out right, but must be depreciated over 27.5 years. However, starting in 2015, there are a couple of options that you might qualify for. See https://ttlc.intuit.com/questions/3266204-de-minimis-safe-harbor-election?jump_to=answer_5361755

Hal_AlAnswer

Employee

You do not have to file a 1099-misc to the contractor. That requirement was rescinded a few years ago.

You cannot add the cost to your 2016 return. You have to file an amended return for 2015.

A cost of a new roof cannot usually be deducted out right, but must be depreciated over 27.5 years. However, starting in 2015, there are a couple of options that you might qualify for. See https://ttlc.intuit.com/questions/3266204-de-minimis-safe-harbor-election?jump_to=answer_5361755