Replaced shingles on roof of rented property - $80...

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New Member

Replaced shingles on roof of rented property - $8000 can I offset against income. I will stop renting out next year does that make a difference.

 
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Replaced shingles on roof of rented property - $8000 can I offset against income. I will stop renting out next year does that make a difference.

If the new roof shingles are of the same quality as the ones they replace, then you can claim it as a maintenance expense.

If the new shingles are significantly better than the old ones, then it would be a capital expense. If you are taking CCA on the building, you would add the cost of the shingle replacement there.

If you have TurboTax Live Assist & Review, here is how to talk to a Tax Expert: https://turbotax.community.intuit.ca/replies/3456106


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