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Get your taxes done using TurboTax
I followed the instructions for the new roof but at the end it also asked when was it put into service or something so I again put in the date the roof was finished. The roof cost $5482 but after putting all the information in it only depreciated $42 for 27.5 years. This just seems low to me. Any comments if it could be correct? or any ideas The date of install was 10-31-2018 and depreciation method was SL. MACRS Convention was MM Any help would be appreciated. Could it just be that low the first year since it was not depreciated for a full year only 2 months?
‎June 1, 2019
12:28 PM