Grape Ape Mom 06:48 PM 03-21-2017
My house was in the path of a tornado in December 2015, and had some damage. Insurance paid for almost everything that was repaired, so I didn't plan to claim very many expenses for the repairs.
My first question is about the depreciation for the roof, gutters, windows, screens, fence, and carpet replaced in two bedrooms. Can I use the insurance valuation and date of actual repair/replacement to claim T/S% depreciation on these new items?
In the middle of our disaster, we also had to have our foundation repaired for about $8000. Is this deducted as a repair with T/S%?
Thank you!
April