Runum
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Hi Diane. I have 2 things. Thanks for having tax loopholes. I have been working with Jim and he has pointed me in RE directions I hadn't thought of. Thanks again.
Question: I bought a bank REO MFH for investment/rentals. One of the first things I had to do was to completely replace the roof to make the structure inhabitable. Would I be able to take a full write off for the cost of the roof since it was part of the reconstruction or would I have to depreciate it? If I can write it off would I need any special documentation to substantiate my claim?
Thanks for your help.
Greg
Question: I bought a bank REO MFH for investment/rentals. One of the first things I had to do was to completely replace the roof to make the structure inhabitable. Would I be able to take a full write off for the cost of the roof since it was part of the reconstruction or would I have to depreciate it? If I can write it off would I need any special documentation to substantiate my claim?
Thanks for your help.
Greg
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