Rental property

[abardales1993]

I need roofing but plan to turn my primary home in to a rental in January.  Should I wait until then to do any work on the home?  

[drc845443]

Hello there,

A new roof is considered an improvement to your home and is not deductible as an expense for tax purposes in the year in which the cost is incurred. Instead, the amount is added to the cost of the home and is depreciated over 27.5 years if the home is rented. 

If the home is not rented there is no immediate benefit. The  cost is deducted from the proceeds on the sale of the home in figuring out the gain on sale in the year when the home is eventually sold.

Here is a resource with tips for rental real estate business.

https://www.irs.gov/businesses/small-businesses-self-employed/tips-on-rental-real-estate-income-dedu...