pbk51
Level 2
02-11-2023
03:28 PM
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Where can I enter a roof replacement for 23K on Pro Connect? Will it be an asset? It is an Asphalt Roof. It is a residential home.
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qbteachmt
Level 15
02-12-2023
02:48 PM
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Need more details.
If this is the taxpayer's personal residence, it doesn't get entered; it is part of their improvement and increases their basis (total invested) in this home. If this is a Residential home they manage as a rental to tenants, it is part of the improvements and changes basis and gets depreciated.
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pbk51
Level 2
03-12-2024
03:28 PM
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Thank you.
