Trying to depreciate new roof on rental home, but keeps coming up $0 depreciation

Forum|Forum|1 year ago
February 24, 2025
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I am trying to depreciate new roof on rental home, but keep getting $0 depreciation

KrisD15

Did you enter the new roof as a new asset and entre a date when it was placed into service?

That is entered under:

Rental Property and Royalties
Do you want to review? YES
Continue to "Rental and Royalty Summary" screen
Select EDIT for the property

You can go directly to the Assets/Depreciation section or go through Property Profile and then Assets

If directly, select
"Assets/Depreciation"
"Do you want to go directly to your assets summary?" YES
Select "Add an Asset"
Select "Rental Real Estate Property"
Select "Residential Rental Real Estate"
Describe as Roof on the address of the rental
Enter the cost, no cost for land and the date it was placed into service
Select "Show Details" on the "Asset Summary" screen for that asset to see the breakdown.

If the roof cost was under a certain limit and you elected to use Section 179 deduction in lieu of depreciation, the summary will show zero depreciation since the cost was taken as a deduction.

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JADinAZ

Thank you KrisD15 - I am not the original poster but I was looking for this exact question and your answer was extremely helpful to me - especially since you added the example! Note to self - always check the Community first!