MarilynG1
Expert Alumni

Investors & landlords

In the Assets/Depreciation section, choose 'Rental Real Estate Property'.

 

On the next page, choose, 'Residential Rental Real Estate' (the roof is part of the house).

 

Then, on the next page, enter the description 'New Roof' and the Cost and the Date. 

 

On the next page, indicate 'you purchased the asset' and 'Yes, I've always used it 100% for business' and enter the date. 

 

On the 'Asset Summary' page, choose 'show details' to see how the roof is being depreciated the same as the house.

 

Here's more info on Depreciation of Rental Assets

 

@Tomc63 

 

 

 

 

 

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