•Calculating the Value of the Old Roof:•Estimated Cost Method: Estimate the original cost of the old roof based on the total property cost and allocate a reasonable portion to it.

My current allocation consists of approximately 40% real estate, 40% equities (low cost ETFs and index funds), and 20% cash.

Not without the following details:1. tax residency, and location of the physical asset for nexus allocation calcs2. personal tax filling status3.

Obtain estimates for planned renovations and confirm if the allocated budget is sufficient.

The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

What portfolio allocation do you want between stocks and real estate?

My CPA requires Quickbooks online and it seems there isn’t an easy way to do the data entry and allocations and keep those two systems inline with all the transactions.  

Depreciation is typically allocated according to the ownership percentages outlined in the partnership or syndication agreement, which are set in advance and follow certain rules under the tax code.However, some syndication structures can be designed with different classes of partners or special allocations, but these arrangements are subject to complex tax rules, such as the "substantial economic effect" rule under Section 704(b) of the Internal Revenue Code.

The way to handle it is to allocate expenses based on the percentage of the home’s square footage used for rental purposes.Here’s how it works:Calculate Rental Percentage: Add up the square footage of both the in-law suite and the rented room, then divide by the total square footage of the house.Apply This Percentage: Use this rental percentage to deduct a proportionate share of expenses like repairs, utilities, and mortgage interest.This post does not create a CPA-Client relationship.

Can you please clarify "keep your money in the taxable bucket and allocate accordingly"?