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I replaced the roof of my rental property and want to input it into TurboTax as a capital expense. What are the steps to do this in TurboTax?
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October 30, 2019
10:41 AM
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Investors and rental owners
To enter any Capital Costs to your rental property in the EasyStep view of TurboTax installed on your computer:
- Go to Rental Property > Yes > Continue > Rental Property Profile
- Check the box that pertains to your CCA addition. *New roof is added to Class 1 - Building Additions in the year.
- Make your entries on the T776 Building Additions page. (see example)
October 30, 2019
10:41 AM