How do I accurately expense a new roof for my home-based business?

[joe-mills]

My wife and I work out of our home, and we bought a new roof this year. I believe we are able to claim that as a business expense, but I'm confused on how to do this accurately.

[MindyB]

Yes, you can include the cost of the roof with your home office expenses.

• Use the magnifying glass on the top right of TurboTax online and search "home office", and choose " Jump to home office expenses."
• Edit the business, go to home office and start/edit using pencil icon
• You will see the home office listed if you already began working on it, choose the pencil to edit, or Add if nothing was started.
• Answer the questions until you get to the screen that says "Based on this info, your simplified home office deduction is: $XYZ" 
• To expense the roof, you will select "No, I want to take actual expenses." (You cannot claim the roof plus the simplified deduction)
• Continue until you get to "Home Office Asset Summary"
• On the Depreciating Your Home screen, Choose "An improvement to your home" and enter the cost.

[joe-mills]

Thanks so much for that answer! Super helpful. One follow-up question. Do I take the whole expense? Or just a percentage based on the size of my office in relation to the size of my home?

[DoninGA]

Only the percentage based on the size of the Home Office.