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Is Your New Roof Tax-Deductible?

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When you’re in the market for a new roof, many homeowners ask, “is my new roof tax-deductible?” Your roofer company Jack The Roofer is here to help answer this question and guide you through what can and can’t be deducted from your taxes.

Is a New Roof Tax-Deductible?

The answer to this question is more complex than one may hope. There are a few considerations that need to be looked at. The two main factors determining whether or not you can deduct the cost of your new roof come down to:

  1. What expenses are necessary for roof replacement & repairs?
  2. If those expenses meet specific requirements outlined by the Internal Revenue Service.

What Are the Requirements for a Roof to Be Tax-Deductible?

The requirements outlined by the Internal Revenue Service that need to be met for a roof to qualify as tax-deductible can be complex. Generally, all expenses incurred in replacing or repairing an existing roof must meet specific criteria, including:

  • The repair/replacement is necessary to fix damage caused by wear and tear, normal structure aging, accidental damage, storm damage or other reasons.
  • It must increase the value of your home.

When these requirements are met, you may be eligible to deduct those costs from your taxes. If you aren’t sure, talk to a Denver roofer for clarification.

What Are the Benefits of a Tax-Deductible Roof?

The benefits of a tax-deductible roof are numerous. If your roof meets the tax-deductible requirements, it can save you money at tax time by reducing your overall taxable income. It also increases your home’s value and improves your property’s look. That can increase its pricing or enhance its appeal.

Need More Help With Your New Roof?

At Jack The Roofer, our experienced roofer professionals are here to help answer questions regarding roofing in Parker, CO. We guide you through the process. We pride ourselves on providing superior service for all your roof needs and look forward to hearing from you soon! Contact us today at (720) 722-2255 to learn how we can help you install a tax-deductible roof for your home.