What will be the affect of this roofing expense?

Technical topics regarding tax preparation.
#1
Posts:
2101
Joined:
21-Apr-2014 12:31pm
Location:
HAWAII
My client with the medical clinic in the lower part of their home has replaced the roof on the home in 2018 at a cost of $33,000. Will the clinic be able to claim some part of that as a depreciable expense? The percentage of previous expenses that couldn't be separated (and they haven't represented such a large expenditure) has been something like 47% to the clinic and 53% to personal. But the doctor was practicing then as a C corp, full time, and now it's a rental to local medical people on an executive suites basis. I'm not sure if that matters, except that the usage is different
 

Return to Taxation



Who is online

Users browsing this forum: Anderly, beardenjv, EvenKeelTax, Google [Bot], GRobCPA, IDunnoItDepends, jhanle1948, JoJoCPA, jwmatorres, kyle242gt, mikestaxes55, rbynaker, RiversideCPA, sjrcpa, UnlicensedTaxPro and 103 guests