Can I deduct for a new roof?

[JulieH1 · Accepted solution]

If it is on a personal residence, then you cannot deduct it but you can add the cost of the roof to your basis (investment) in the home and that will help you when you sell the property to pay less tax if you sell it for a profit.

If the roof is for a rental, then it is not a repair but an improvement and it can be deducted over the years of it's "life" which TurboTax will figure for you when you add it onto Schedule E (rental properties).