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Investors & landlords
How is a roof deducted under 179? If I place it in Assets/Depreciation in TurboTax and want it to be written off in one year, my taxes go UP by $3,500. When I choose to write it off over several years, my taxes go DOWN $3,500. They should go way up since the deduction is divvied up. Should I place the roof in "Expenses" so I can write off the entire amount of the roof in 2020 under 179? ($67,000)
‎April 14, 2021
8:32 PM