I got a new roof on my rental property. Insurance covered 5772 less 1,000 deductible. Which amount do I put down for capital improvement on the roof?

[KatherineC · Accepted solution]

You would enter $1000 which is the total amount you paid.

[judyk00]

Does I have to list the roof as an asset or can I put it under miscellaneous expenses under the De Minimis Safe Harbor election?

[KatherineC]

No, you will need to depreciate the roof.  You will enter the cost as an asset and an improvement to the building.