- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
In other words, go into the "asset" of the old roof and 'sell' it for $0. Then the remaining basis will end up as a loss (you are 'using' the 'remaining depreciation'), so it will usually save you taxes.
If the old roof was part of the original depreciation of the entire house, it can get MUCH more complicated.
If the old roof was part of the original depreciation of the entire house, it can get MUCH more complicated.
May 31, 2019
5:51 PM