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Hi I have one home I rent out, that is worth around 230k. I make less than 1 million dollars. I had the roof replaced, how should I deduct this?
I am a bit confused, should I only deduct the 1k deductible as a repair, or should I deduct the entire cost as a repair something like 7k? Do i need to use or should I use the SMALL TAXPAYER SAFE HARBOR? In general my expenses and depreciation (even without the roof) offset the rental income. I could use some advice on what to do.
‎June 4, 2019
10:26 PM