@fusiondoc2 You will need to add the house again using the new basis for current and future depreciation. Keep the dates the same. You will need to keep track of the prior depreciation in your financial notebook. Delete the old house asset after getting the new one in place.
Add the roof as a new asset.
See Publication 527, Residential Rental Property (Including Rental of Vacation Homes), in particular, restoration.
I want to urge you to create a financial notebook that is kept separate from your tax return. Keep it safe and each year, add your year-end statements from all your financial accounts plus a copy of your W2’s, your schedule E carryover information, and proof of your basis in your various investments. You must keep tax records related to a rental house from the time you purchase until you sell plus 3 years. It is very easy to lose track of disallowed losses, prior depreciation, etc.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
