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I put a new roof on my rental house 12/15/18 to sell my rental. Sold it on 1/16/19. What year should I write it off? Can I write off whole price of roof or depreciate
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June 6, 2019
12:12 AM
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Investors & landlords
For 15 days worth of depreciation ( in 2018--- mid-month ) it may be easier to include this as part of the sales preparation expenses and therefore changing your basis on the asset. you still would have to file a schedule-E for the rental income/expenses for 2018 and then when you file 2019 do the "sale of business asset" -- form 4797 --TurboTax will walk you through that next year.
June 6, 2019
12:12 AM