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Investors & landlords
Yes, this is a capital improvement to your rental property and the cost will be added to your adjusted cost basis of the rental property. Improvements are depreciated using the straight-line method, which means that you must deduct the same amount every year over the useful life of the roof. The IRS designates a useful life of 27.5 years, so, divide the total cost of the roof by 27.5 to reach the amount you are able to deduct each year.
‎June 1, 2019
9:37 AM