Depreciation starts when you bring the new roof into service. If the property is tenanted, you bring the roof into service on the day you install it. If the property is unoccupied, you bring the roof into service when you next lease the rental property. Depreciation ends after 27.5 years, when you have fully recovered the cost of the new roof. You may have to make adjustment to your tax return if you sell the property or stop using it as a rental home before that date. Read more : ehow/how_7503662_depreciate-new-roof-rental-property.html
Posted on: Tue, 16 Dec 2014 03:40:56 +0000
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