No, your cost basis for the new roof is $4,000. If you capitalize it, the amount would be $4,000 and I would depreciate it over 15 years (roofs don't last 27.5 years. Alternatively, you may want to expense the entire $4,000. If all you did was replace the shingles, and not the actual underlying roof, then I would consider it a repair, not a capital improvement.
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