finlandyu
New Member

Rental property hail damage. Received insurance proceeds to replace roof. Where is Form 4684. Pay out of pocket to upgrade Roof, how to revise depreciation Basis.

We replace rental property roof due to sever hail damage. This is a restoration. I need report it on Form 4684. But where in Turbo tax can I click to find this form to fill out? Also, I paid out of pocket to upgrade roof to higher classes, I need revise property's depreciable basis, where can I click in Turbo Tax to do it? Also, I need reduce the property's basis by the old roof's basis and then add the new roof's total cost. How to do it in Turbo tax? From the question that guides me, there is no way I can click to find where to do this? Thanks for any help.