topic How do I deduct out of pocket costs from a roof replacement on a rental property if I received money from insurance due to hurricane damage? in Investors & landlords https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-do-i-deduct-out-of-pocket-costs-from-a-roof-replacement-on-a-rental-property-if-i-received-money/01/215622#M8374 Sat, 01 Jun 2019 18:23:59 GMT siwarski 2019-06-01T18:23:59Z How do I deduct out of pocket costs from a roof replacement on a rental property if I received money from insurance due to hurricane damage? https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-do-i-deduct-out-of-pocket-costs-from-a-roof-replacement-on-a-rental-property-if-i-received-money/01/215622#M8374 Sat, 01 Jun 2019 18:23:59 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-do-i-deduct-out-of-pocket-costs-from-a-roof-replacement-on-a-rental-property-if-i-received-money/01/215622#M8374 siwarski 2019-06-01T18:23:59Z Deduct the out of pocket costs as a repair expense. So fo... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/deduct-the-out-of-pocket-costs-as-a-repair-expense-so-fo/01/215638#M8375 <P>Deduct the out of pocket costs as a repair expense.</P><P>So for example, say roof repair costs $12,000 and insurance paid $10,500 then deduct the difference or $1,500 as a repair expense for the rental.&nbsp;</P> Sat, 01 Jun 2019 18:24:00 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/deduct-the-out-of-pocket-costs-as-a-repair-expense-so-fo/01/215638#M8375 MichaelL1 2019-06-01T18:24:00Z Thank you! So there is no need to depreciate the cost of... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/thank-you-so-there-is-no-need-to-depreciate-the-cost-of/01/215649#M8376 Thank you! So there is no need to depreciate the cost of the roof? Sat, 01 Jun 2019 18:24:02 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/thank-you-so-there-is-no-need-to-depreciate-the-cost-of/01/215649#M8376 siwarski 2019-06-01T18:24:02Z why doesn't intuit confirm or respond.. no way to know wh... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/why-doesn-t-intuit-confirm-or-respond-no-way-to-know-wh/01/215655#M8377 why doesn't intuit confirm or respond.. no way to know what is the right answer<BR /> Sat, 01 Jun 2019 18:24:03 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/why-doesn-t-intuit-confirm-or-respond-no-way-to-know-wh/01/215655#M8377 brianc1 2019-06-01T18:24:03Z This question was posted a year ago but the answer is no... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/this-question-was-posted-a-year-ago-but-the-answer-is-no/01/215664#M8378 This question was posted a year ago but the answer is no need to depreciate it. Sat, 01 Jun 2019 18:24:05 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/this-question-was-posted-a-year-ago-but-the-answer-is-no/01/215664#M8378 MichaelL1 2019-06-01T18:24:05Z Someone asked the same question on here and that person r... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/someone-asked-the-same-question-on-here-and-that-person-r/01/215669#M8379 Someone asked the same question on here and that person referenced IRS and said yes it needs to be as it is part of a full roof replacement which is capitalized for the difference of insurance and cost (you are just paying a small portion). Sat, 01 Jun 2019 18:24:18 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/someone-asked-the-same-question-on-here-and-that-person-r/01/215669#M8379 brianc1 2019-06-01T18:24:18Z also on biggerpockets.com they said capitalize it.   Whic... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/also-on-biggerpockets-com-they-said-capitalize-it-whic/01/215678#M8380 also on biggerpockets.com they said capitalize it.&nbsp;&nbsp;&nbsp;Which IRS document says you can expense it as repair (when it is not a repair). Sat, 01 Jun 2019 18:24:19 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/also-on-biggerpockets-com-they-said-capitalize-it-whic/01/215678#M8380 brianc1 2019-06-01T18:24:19Z Re: Deduct the out of pocket costs as a repair expense. So fo... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-deduct-the-out-of-pocket-costs-as-a-repair-expense-so-fo/01/2610375#M85989 <P>Can I ask a question here?</P> Wed, 23 Mar 2022 11:54:25 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-deduct-the-out-of-pocket-costs-as-a-repair-expense-so-fo/01/2610375#M85989 johnsharon1 2022-03-23T11:54:25Z Re: Deduct the out of pocket costs as a repair expense. So fo... https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-deduct-the-out-of-pocket-costs-as-a-repair-expense-so-fo/01/2610379#M85990 <P>Do I deduct the total expense of a a roof replacement on my rental property?</P> Wed, 23 Mar 2022 11:57:21 GMT https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/re-deduct-the-out-of-pocket-costs-as-a-repair-expense-so-fo/01/2610379#M85990 johnsharon1 2022-03-23T11:57:21Z