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If taking depreciation for rental property roof replacement do I add it to cost basis when sold?
Property was used for personal used 2016-July 2018.
Then rented August 2018-August 2019 and held vacant prior to Sale November 2019. The roof was replaced June 2019. From what I can tell on TurboTax I can take the full depreciation for the roof this year. Do I need to add it to cost basis? Thank you
Then rented August 2018-August 2019 and held vacant prior to Sale November 2019. The roof was replaced June 2019. From what I can tell on TurboTax I can take the full depreciation for the roof this year. Do I need to add it to cost basis? Thank you
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March 15, 2020
12:32 PM