Roof Repairs and Replacement: Are They Tax Deductible?

Roof replacement can improve the appeal, safety and comfort of your home. Since it’s a major home improvement, people often ask if they can deduct the cost of this project from their annual taxes. Discover the answer from one of the area’s leading roofing contractors. 

Home Repairs vs. Home Improvements

The Internal Revenue Service (IRS) considers home repairs as maintenance tasks. They don’t add significant life or value to a property. Addressing roof leaks and replacing damaged shingles falls under this category. 

On the other hand, the IRS refers to home improvements as upgrades that can increase a property’s life and value. These projects cost considerably more than repairs. Roof replacement, kitchen renovation and central air conditioning system installation are typical examples of home improvements. 

Are Roof Repairs and Replacement Tax Deductible?

Minor roof repairs are often not tax deductible since they don’t add substantial value to your property. Some home improvements, such as roof replacement, won’t be deducted from your annual taxes if you use your property exclusively as a personal residence. It means you won’t get a tax deduction for getting a new roof for your house. 

However, if you’re replacing the roof of a rental property, you might be able to deduct your project’s cost from your taxes. Do you run your business from your home? If so, you might also get a tax deduction when you replace the roof of your home office. It will help to look into tax laws applicable to your state and consult experienced roofing contractors to determine how much deductions you can get from these improvements. 

Tax Deductions When Selling a Home

If you’re considering listing your property in a few years, keep track of your home improvement-related expenses. Some of these costs can be deducted from your taxes when you sell your home. Save yourself from stress by recording your expenses on your computer or organizing them in a folder. Moreover, tax regulations vary by state, so check to see which applies to your area. 

Are you looking for dependable roofers near me to help with your project? Leave your roof repair and replacement needs to Easton Roofing. Call us at (913) 257-5426 or complete our online form to request a free consultation. We work with clients around Kansas City, MO.