rental home

[POCAHONTAS]

client has rental home, added a new roof while it was being rented, can I add the cost to the basis of the home or depreciate the roof separately on form 4562??
Thanks

[ChEAr$]

Rental house;

client has rental home, added a new roof while it was being rented, can I add the cost to the basis of the home or depreciate the roof separately on form 4562??
Thanks

and not a rental "home".

Yes, depreciate it separately.

UNLESS it might qualify to be a repair and maintenance deduction. There is authority for
this treatment.

[ED SMITH]

The nature of your question suggests that the house is no longer being rented. Is that the case?

You also need to specify what is meant by "new roof". Most of the time it means replacing the roof covering, tarpaper, shingles, etc, which is really a repair to repair and prevent leaks. This could be taken as a repair expense.

[OtisMozzetti]

New Roof is a Capital Improvement

All of my training says that "a new roof" is a depreciable capital improvement, separately depreciated, not a deductible expense. Probably I should go find a citation to this in "The Tax Book", but it is something so clear that I would never even consult that reference book.

[newbie]

Not necessarily always clear cut

All of my training says that "a new roof" is a depreciable capital improvement, separately depreciated, not a deductible expense. Probably I should go find a citation to this in "The Tax Book", but it is something so clear that I would never even consult that reference book.

In this article there are several examples of roof repairs vs. capitalized.

http://goliath.ecnext.com/coms2/gi_0199-3035783/Expense-or-capitalize-roof-repairs.html