Are you planning to repair or replace your roof? You may be wondering whether this home improvement project can be tax-deductible. Whether you’re repairing a roof or investing in a new roof in St. Louis, MO, due to age or Chesterfield storm damage, read on. Exterior Building Solutions shares a guide to determine if your roof repair or replacement is tax deductible.

When Is Roof Repair or Replacement Tax Deductible?

For an emergency roof repair or replacement to qualify as tax-deductible in St. Louis, MO, it must meet the following criteria:

The roof replacement is due to wear and tear.

The homeowner is not itemizing deductions on their tax return and has taken out a loan or paid out of pocket. In this case, only a portion of the cost can be counted towards residential energy efficiency property credits used for energy-efficient insulation projects.

Considerations for Deductible Roof Repairs and Replacement

The energy efficiency of the roofing materials can affect how much of the cost is tax deductible. You may qualify for up to 10 percent of the expense of certain qualifying energy-efficient products or installations that meet or exceed requirements set by the IRS code.

When considering getting an update for an existing roof, keep in mind that any improvements related to enhancing its energy efficiency might be eligible for deduction. When in doubt, consult your tax professional. They can provide updated regulations on roof repair and replacement deduction information.

Work With a Professional on Your Roofing Project

There are a lot of details and things to know about tax-deductible roofing projects. With a roofing professional, you can confidently go into your project! If you’re looking for a quality roofing company for roof repair or replacement in St. Louis, MO, get in touch with Exterior Building Solutions! As one of the top roofing companies in St. Louis, our team offers state-of-the-art roofing materials and superior workmanship. Call us today at (314) 470-8783 or complete our contact form.