how to deduct rental new roof in Turbo tax

Forum|Forum|5 years ago
March 28, 2021
2 replies
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I am trying in turbo tax to list a new roof replacement for my rental property. I just don't know what choice to make to enter this expense. When I select "describe this asset: the only choices that I get are "real estate property" , "computer, video, ...", "tools, machinery, etc." , or "intangibles."

What category do I chose to be able to enter the expense for a roof replacement?

Best answer by ColeenD3

It is a component of the house and will be depreciated over 27.5 years. Choose real estate property.

ColeenD3Answer

It is a component of the house and will be depreciated over 27.5 years. Choose real estate property.

eugenevos

Hi,

Should I enter the land value in the section Tell us about this rental asset (rental property new roof)?

Thanks

TomK2023

Select Residential rental real estate. Enter improvement description (e.g., New Roof), date of improvement on the next page, etc.

Thank you Carl, you are indeed correct!

[Edited 2/17/23 | 8:28am PST]

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Carl11_2

Employee

The new roof is classified as Residential Rental Real Estate and gets depreciated over 27.5 years with depreciation starting on the date the work was completed, or the date the property was "available for rent"; whichever date is last.

COST: What you paid for the new roof in it's entirety.

COST OF LAND: $0 (Zero). You did not pay for land and you did not pay for any qualified land improvements)