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Get your taxes done using TurboTax
1) If you add under type of asset as a J5 Qualified Replacement you have 15 year strait line.
2) So I guess capital improvement is the same as residential rental? since I do get the same result 27.5 year. Which happens to be the correct answer.
Unfortunately, in Florida a roof is only good for 12 years, since myself and all my neighbors need a new roof every 12-14 years or cancellation of property insurance. So go figure trying to explain this to the Feds, when we have to recapture.
March 1, 2023
10:44 AM