@DumbDadLTG wrote:
I took ownership in 2020. Roof (asphalt shingles) approaching near end of its life but has held on.
In my opinion, that is a "betterment" (improvement), not a repair.
I'll include a link below to an article that I frequently refer to in regards to roofs (if this forum doesn't delete the link). Although in my opinion, their example for a "betterment" based on age is too aggressive (and keep in mind that even if you don't think it is a "betterment", there are several other factors that could make it an improvement rather than a repair):
https://www.thetaxadviser.com/newsletters/2017/jun/expensing-roofing-costs/
How much time elapsed between the building acquisition and the roof work?
- Generally, if roof work needs to be done soon after the building was acquired (e.g., two years later) it might fall into the betterment category because the work corrected a material defect or condition that existed before the building was acquired.
- However, if a long period of time has passed since the original building acquisition (e.g., seven years later) it generally does not fall into this category.
