Purchased rental property in 2012. Added new roof 3/2016. Tenant moved out in Apr and I sold property in Jul. Do I add the roof as an asset that depreciates for 4 month than sold for $0.0?

Mark-001 · ‎June 3, 2019

PatriciaV · ‎June 3, 2019

No, you can add the cost of the roof to your basis in the property or as a Selling Expense when you report the sale.

You receive no depreciation for an asset that is purchased and sold in the same tax year.

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PatriciaV · ‎June 3, 2019

No, you can add the cost of the roof to your basis in the property or as a Selling Expense when you report the sale.

You receive no depreciation for an asset that is purchased and sold in the same tax year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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