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Deductions & credits
@DumbDadLTG wrote:...else if do i next year, I definitely have to depreciate
Let's back up a second. I should have asked this before I made my last comment. TWICE you referred to it as a "repair", rather than an improvement.
If it truly is a "repair", there is no dollar limit. It could cost a million dollars and it would be deductible.
If it is merely replacing shingles and underlayment (not replacing rafters/trusses and minimal sheathing replacement), in SOME cases it may be a repair.
4 weeks ago