Investors & landlords


@jkenned9260  wrote:

How do I recover the balance of depreciation on my old roof when I replace it, the remaining 15 years


If the roof was part of the property when you bought it, you don't get anything when it fails.  You just list the new roof as an asset and start depreciating it.

 

If the existing roof is already a replacement and already listed as a separate asset in Turbotax, you will report that you disposed of the asset (it wore out, had zero value).  That will allow you to roll up the remaining depreciation.  Then list the new roof as a new asset.