Hi,
This might be an old thread but you were the only one that explained it in great detail. Can you explain “then you use TurboTax to sell/dispose the old roof and manually reduce the remaining depreciation of the building”. I have three items listed now:
property depreciation $7,709
new roof depreciation $5
old roof depreciation $100
new roof cost $3,455 installed 12/17/2023. Estimated expense for this assets= $5
Can you explain what number I would need to manually reduce? Should I expect three items? And do I take $7709-$5?
Thanks,
Connie
