Special Depreciation used for new roof in 2019. How to treat it for 2020

[mgranp]

Hello,

I got my taxes done by a CPA and he used special depreciation for a new roof worth $7680 I put in a rental property. Here is the summary of depreciation for my 2019 taxes.

I am doing my taxes this year and was wondering how to incorporate this information in Turbo tax. Do I add a different asset marked as improvement or should I just use the Cost of my house to be 110,680 (Include the improvement in the Cost) 

[DaveF1006]

@mgranp@ameliesuncle    After reading ameliesuncle response to this post, I agree that bonus depreciation should not have been claimed in 2019. As a result of this error, there may be penalties and interest assessed and your CPA should be liable for these. You will need to go to your CPA and have them amend the 2019 return to remove the bonus depreciation.

[Edited 05-06-2021|04:37 PM PST]

[AmeliesUncle]

Your prior tax preparer did it wrong.  A roof does not qualify for the Special Depreciation Allowance, and it is depreciated over 27.5 years.

That means you incorrectly claimed the FULL cost last year, rather than spreading it out over 27.5 years.

To correct the matter, you should bring it back to your prior tax preparer to correct it, and you will probably need to repay some tax because you received too large of a deduction.

[zz3bcn]

A roof is not a capital improvement - it is maintenance so cannot be depreciated.

[Critter-3]

Installing a NEW roof is a capital improvement and MUST  be depreciated  however fixing the roof is an expense.  So which one was it ... did you put on a complete new roof  or just repair the damaged section?   And the CPA put it on as a capital asset  but used the wrong class life.  

[Critter-3]

Rules did change for 2018 and forward but the roof did not ... https://www.irs.gov/newsroom/new-rules-and-limitations-for-depreciation-and-expensing-under-the-tax-...