I had a new roof put in this past year, which cost me around $7k. I provided all the information to my CPA for 2021 tax preparation, and he told me that I couldn’t expense it out, and that the cost would be added to the depreciation schedule by dividing the $7k over the depreciable life of 27.5 years, and taken slowly/linearly across that time. I was expecting/hoping I could take the full $7k deduction this year, but maybe I was mistaken. Can I get a second opinion here?
Yes, you can. Your CPA is correct. Full deduction for roof replacements is only available for non-residential properties like office buildings or warehouses.