We are putting a new roof on our house this summer. We bought the shingles and some supplies for it last night. I'm keeping all the receipts for it but am not sure which category to put it in on the calendar keeper and am already wondering what to do when it comes to tax time next year. I'm assuming only a percentage of it will count towards a daycare expense and that it will have to be depreciated?
TomCopeland 07:31 PM 05-17-2012
A roof is a home improvement that you depreciate over 39 years. Use your time-space %.
Thanks for the help Tom!