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Ask Millionacres: How Do I Deduct a New Roof on A Rental Property?


Jun 05, 2021 by Matt Frankel, CFP
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I have a house I use for rental income. I put a new roof on in 2020, and I am assuming I have to depreciate using the straight-line method over 27.5 years. The IRS says I need to fill out Form 4562. I have read the whole thing a million times but can't figure out how to fill it out properly for a roof. What line do I list on? What section do I use? Your help would be greatly appreciated! -- Maryann