Depreciation of Renta; Property

[Chief]

For rental of residential property 27.5 years of the life of the asset. That applies to the house held for rental. Does this life apply for a new roof? What is the life of a new air condiitioning unit?
Is there any way to expense either as a current expense? According to the TB both need tobe depreciated.

[JG EA]

For rental of residential property 27.5 years of the life of the asset. That applies to the house held for rental. Does this life apply for a new roof? What is the life of a new air condiitioning unit?
Is there any way to expense either as a current expense? According to the TB both need tobe depreciated.

A new roof needs to be depreciated at 27.5 years. That being said there have been some situations where a roof was a repair. (Like - when is a door not a door - when it is ajar.)
The air conditioning unit may be a structural component or may not be - it depends on the unit. 27.5 if structural with ductwork and all.

There is no way to expense an asset in a rental. If it is an operating expense ...it is an expense.

[ChEAr$]

There is no way to expense an asset in a rental. If it is an operating expense ...it is an expense.

Well, techinically speaking of course, but what about 100% bonus depreciation?

[Burke]

That has been a real bonus to my rental clients this year, in spite of the add-back on the state which doesn't allow it. Circumvents 179 problem. At least for this year.

[Peachie]

Might I add:

It seems the bonus is not available to a MFS taxpayer.

Peachie

[AJsTax]

bONUS DEPRECIATION

Well, techinically speaking of course, but what about 100% bonus depreciation?

Bonus depreciation is only available for assets with 20 years or less life on the tables. So anything that is considered a part of the structure is out, a 5 year asset (for example) can take bonus depreciation.