Q. Can I continue to depreciate the expense even though I had to replace the in 15 years per insurance requirement?
A. No. Instead, you get to "write off" the remaing depreciation.
In TurboTax (TT), you indicate that the asset (old roof) was disposed of. You indicate that the "sale price" was $0. TT will write off the remaining depreciation as a long term capital loss.
Q. Is it possible to depreciate a roof replacement over 15 years instead of 27.5?
A. No.
