Hi Everyone,
I understand the depreciating rule of 27.5 years for claiming the roof replacement expense on your income taxes.
Most Florida home insurance companies require replacement of a roof much sooner than every 27.5 years.
Can I continue to depreciate the expense even though I had to replace the in 15 years per insurance requirement?
I would then be depreciating 2 roofs on the same property. Is this considered double dipping?
Is it possible to depreciate a roof replacement over 15 years instead of 27.5?
