Are Your Roof Repair or Replacement Costs Tax-Deductible?

When an urgent repair arrives or you need to upgrade to a new roofing system, the question arises: will this project be tax-deductible? This is something worth considering especially when totaling the cost of either home improvement. This blog post will answer basic questions about when a damaged roof repair or full replacement is considered tax-deductible.

When to Deduct the Cost of Roof Repair?

Tax deductions for roof repairs depend on the repair type and whether it’s a residential or business property. Generally, basic non-structural repairs such as patching and sealing are not considered total replacements and won’t qualify for a tax deduction.

However, if you make structural repairs to a damaged and leaking roof due to hail and other natural disasters, those expenses can be deducted from your taxes according to IRS regulations. Speak with a certified roofer to get your specific questions answered about what types of qualifications apply when considering deductions.

When Is Roof Replacement Tax-Deductible?

Most of the time, roof replacement due to natural wear and tear is not eligible for tax deductions. However, if you qualify under IRS regulations to make this upgrade on a residential property or business-use living space (i.e., a lake house), taxes might be partially deducted throughout the roof’s lifespan as long as expenses meet the federal government’s eligibility requirements.

Turn to The Great American Roofing Company!

Overall, check your eligibility for potential tax deductions to ensure you’re taking the best financial option for roofing repair or replacement. For much-needed assistance on your roofing project, get in touch with The Great American Roofing Company. We’re a professional roofing contractor who can help assess your roof and determine if your project will be eligible for tax deductions. To learn more, give us a call at (201) 825-2955, or reach us online to request a free quote.