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Entering new roof on rental in Tax Act
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Topic: Entering new roof on rental in Tax Act (Read 1179 times)
Gone Fishing
Magnum Stache
Posts: 2925
So Close went fishing on April 1, 2016
Entering new roof on rental in Tax Act
«
on:
April 02, 2019, 10:59:00 AM »
I put a new roof on my rental last year and can't find where to enter it to increase my basis and begin depreciating it. Tax Act isn't answering the phone, any one know how to do this?
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Gone Fishing
Magnum Stache
Posts: 2925
So Close went fishing on April 1, 2016
Re: Entering new roof on rental in Tax Act
«
Reply #1 on:
April 02, 2019, 01:53:49 PM »
If I don't hear back from Tax Act I might just enter it as another asset.
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RetiredAt63
CMTO 2023 Attendees
Senior Mustachian
Posts: 20808
Location: Eastern Ontario, Canada
Re: Entering new roof on rental in Tax Act
«
Reply #2 on:
April 02, 2019, 04:52:56 PM »
Why not ask in the landlord and tax sections of the forum?
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bacchi
Walrus Stache
Posts: 7100
Re: Entering new roof on rental in Tax Act
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Reply #3 on:
April 02, 2019, 05:01:57 PM »
I used H&R this year but isn't this another Schedule E depreciating asset?
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Entering new roof on rental in Tax Act