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dd55
New Member

Depreciation Basis Reduction

Hello,

I have a rental property and am depreciation the cost basis for the structure.  I have replaced the roof and added the costs to my basis.  However, I want to reduce the depreciation basis by the amount attributable to the old roof.  For example, the original depreciable basis is $350,000 and the amount attributable to the old roof is $5,000.  How do I reduce the depreciable basis from $350,000 to $345,000?

I would appreciate your suggestion.

 

 

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