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A new roof is a property improvement. Did you enter it in the assets/depreciation section in the tax year the roof was completed and placed in service as a rental asset?
Was the property classified as a rental in the tax year and at the time the new roof was installed?
Did you add the cost of the roof to the cost basis of the house when you entered the asset?
Or did you enter the roof as a separate asset in the tax year the roof was installed?
thanks....I have compared the number before I change roof. it seems like Turbotax has taken care of this.
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