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Investors & landlords
In what tax year was the property placed into service with the 25 year depreciation schedule?
Also, last year I added a new roof to a property that was put in service a couple years ago.
By "last year" I assume you mean the 2020 tax year. The new roof is added to the property in the assets/depreciation section, classified as residential rental property and gets depreciated over the next 27.5 years with year one being the date the roof was completed, or the date the property was placed in service - whichever date was "last".
May 12, 2021
6:21 PM