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roof on rental (how to enter the asset in Turbotax)

How to I enter a roof replacement on a rental property in Turbo Tax.  Do I create a new asset under residential real estate?  Do I depreciate the labor cost?


I found none of the answers above of any use, though the first was close.

The problem is that TT only offers new asset selections like appliances, machinery. Nothing for major building improvements like a new roof, which probably ought to have the 27.5 year MACRS depreciation.

Here's what I did, to add cost of new roof to existing rental property:

Add an Asset, Rental Real Estate, Residential Real Estate (as though adding a new house)

Description: New Roof, 123 Main Street

The result was a 27.5 year asset with MACRS S/L depreciation

    • Thank you.  Perhaps I am not being clear in the question.  I am aware of how to handle it from a tax perspective.  I just need to know how to go about doing it in Turbo Tax.  Thank you.
    • Desktop or Online?
    • Try this "Rentals & Royalties" interview section under "Wages & Income" to enter the information about new assets.  Specifically, start the "Assets/Depreciation" interview on the "Your {property name] Rental Summary" page.
    • Desktop:  Yep I did that.  Just want to know what category asset it would be:  Rental real estate, other, etc...
    • Thank you view2! :)
    • Your welcome.
    • Kind thanks to all!
    • tonyerin98  Your welcome, hope that gets your question, post back with any other question.
    • I wwuld love to know how you got your question resolved because that's the one that I've been asking as the categories or options are to limited and none seem to pertain to a major (27.5) depreciation schedule.
    • David you have not posted a question only comments  under other peoples questions and Programs that may not pertain to your particular situation.
    • I will add a question, and hopefully you will answer as you seem quite knowledgeable.  Thanks.
    • Will be looking for it.
    • Submitted a question...hopefully went thru as my Internet Explorer kept failing....  Ping me if my question doesn't appear.  Thanks.
    • david since you are having that much trouble with IE post the question here, we just try to keep  related information in a thread so it is not confusing to others.
    • thanks.  I'm assuming that a new roof comes under the 27.5 yr. depre. schedule.  I understand that the first option, Rental Real Estate Property, on the Add Asset page is the one that uses the 27.5 schedule. However, none of the questions pertain to a major improvement, only the addition of a property.  Under Tools.....Furniture, it's looks as if the 5 yr. depreciation schedule is used, which is not what I want. I'm using the Basic version of TurboTax.  Is this part of the problem?  Is the Premiere version that much better for rental properties and items such as I am trying to add?
    • david A major change  in all version this year Premier or Home and business will handle a Schedule E much better . Knowing which version you have is one of the benefits of asking a question as  the answer provided would not apply to your version.
      Yes the upgrade to me personally was important as the need for Schedule C and  Multiplies Schedule E and adding improvements and asset for a rental is much easier and more refined.

      Good luck
    • Thanks.  Managed to get the roof into the correct depre. schedule, despite the almost nefarious, confusing wording that TurboTax has used.  As a retired Analyst/Programmer who has created many a data entry screen for end users, I found their lack of clarity most frustrating.  From previous comments, even their own people can't answer questions that were similar to mine.  Oh, well, almost done....and it will be another year to rethink TurboTax!!! Cheers!

    Hello Tony,

    Rental property income, expenses, and sales of rental property are entered in the "Rents & Royalties" section of TurboTax.

    Click here for instructions and more information (for rental property sales, scroll all the way down to the bottom).

    Have a nice day,

      Hi Tonyerin98,

      Here is some information on entering the repairs on your asset:

      1. In TurboTax, click Federal Taxes, and then click Wages & Income > Explore On My Own.
        • Home & Business: Click Business, then Continue, then Explore On My Own.
      2. On the Your 2012 Income Summary screen, scroll down to the Rentals and Royalties section. Click the Start button on the right.
        • Home & Business: This screen will be titled Your Business Income.
      3. Answer Yes to the question Did you have any rental or royalty income and expenses in 2012 for property you own?
      4. Follow the on-screen instructions to enter information about your rental.
      5. Eventually, you will come to a screen where you can enter your rental income, expenses, assets, depreciation, and vehicle expenses. Click the Start button to the right of each section to enter those items.

      I am also attaching a link that may be of assistance to you. I hope this helps.

      Thanks for choosing TurboTax,



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