Deductions & credits

why did you get an insurance payment? why was the roof replaced? 

 

generally, a roof replaced due to deterioration on a personal residence is not deductible but what you paid out of pocket adds to its tax basis.

a roof destroyed by a disaster in a federally declared disaster area might qualify for a casualty loss deduction.

this deduction would likely be the decline in fair value of the home before and after the disaster reduced by any insurance recovery