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Can You Claim Roof Repair on Taxes?

Published by Top Tier on January 26, 2024

This tax season, if you had your roof repaired then you may be wondering if you can write off your roof work. Generally, the short answer is no, there could be some factors of your home or the work that was done that may change that so you should consult with your tax professional to be sure. It’s most likely that the IRS will not let you write off repairs, but if you are replacing your roof as a “home improvement project,” you may be able to write off a certain percentage of the cost as a capital gain when you sell your home. There are some parameters of what the IRS considers a repair versus what they consider a “home improvement”. It can give you something to consider when you experience roof damage or find that you need some work done. Do you want to just get that immediate issue fixed and repaired and move on or do you want to get the whole roof replaced as a whole and be able to say you increased the value of your home.

What Would Be a Repair?

Repairs are considered maintenance, that could be termite damage, replacing a few shingles or portions of metal or flat roofs. These can not be written off because they aren’t considered home improvements. While it may seem like it doesn’t make sense, repairs don’t technically add enough value to your home. Some may argue that they do add value and would be a home improvement project. However, they are considered necessary repairs because they are needed to maintain livability in your home. We recommend talking with your tax professional so you can know for sure. 

Why Can “Home Improvements” Be Written Off?

Large home improvement projects such as a kitchen or bathroom upgrade or a full roof replacement are considered value adding home improvements. These home improvements can be written off after you sell your home, as their intention is to add value to your home. Depending on a few factors, you are able to write off a certain percentage of the cost of your roof replacement in Swedesboro, which you should consult with a tax professional about to know exactly what amount you should be writing off. 

Now I’m sure this isn’t the ideal answer you want to hear, roof repairs can be costly and untimely. Top Tier New Jersey offers financing options that can help make any costs a little more manageable. We aren’t tax professionals, so we do recommend talking with your tax advisor to know for sure about what you can and cannot write off. If your roof is already seeing some damage and you’re on the fence about whether you want to do a repair or a replacement, maybe this article will help you one way or the other. Roof replacements may be more costly, but they can bring you some more value back in the long run, as you’re investing in your home. 

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