A roof is one of the many costly investments a homeowner must make. Homeowners in the local area understand this all too well, especially considering the inclement weather they experience during certain times of the year. Fortunately, certain repair or replacement work done on the roof is eligible for tax deductions as long as they’re done correctly and with the proper documentation.
Tax-Deductible Roof Repairs and Replacements
A tax deduction for a roof repair or replacement project is possible as long as the following criteria are met:
- Qualifying Expenses. Qualifying expenses must be related to preserving the value and extending the life of the property, such as patching holes in shingles or replacing entire sections. Replacing a roof system after 20 years would generally qualify as well.
- Qualifying Properties. Qualifying properties are also essential for deductions on roof repairs and replacements. According to IRS guidelines, tax-deductible repairs can only be made to residential properties — specifically, someone’s primary residence. Investment property, particularly rental homes, don’t qualify for tax deductions.
How to Claim Roof Repairs or Replacement on Your Taxes
Keeping any relevant documents and receipts filed for potential deductions is crucial to claim roof repairs or replacements on your income tax properly. If a roofing company was involved in the project, be sure to source all invoices related to labor and materials used during the installation or repair. Documenting every step of a repair is vital when itemizing deductions, even if it only saves you a small amount out of pocket.
Contact Willi Roofing Services for All Your Roofing Needs in Pflugerville, TX
It’s important to remember that roof repairs and replacements can be tax deductible, but only under certain qualifying circumstances. If you need help with roof installation or repairs in Pflugerville, TX, turn to Willi Roofing Services. Our team makes certain that your entire roofing system is integrated properly to protect your home. We address the roof, gutters, ventilation, flashing, chimneys — all the parts that go into your home’s roofing system. We install only the highest quality materials, backed by strong manufacturer warranties and our own workmanship guarantee. To get started, give us a call at (512) 394-8234. You may also fill out our contact form for a free estimate.