Installed a new metal roof in 2023, meets the SRI value and the company seems to think it qualifies for the energy efficiency credit….does it go with insulation or did it change for 2023? I have read some other threads but has anyone actually figured out if a cool roof meets the requirements for this year? Thanks
You'll need to sign in or create an account to connect with an expert.
Per Expert @MonikaK1
"Yes, the credit is still 10% of the cost, up to $500, or it may qualify for 30% up to $1,200,for qualifying improvements. The roofing improvements that qualify may be entered under solar electric costs or solar water heating costs, or as insulation.
Installing a metal roof doesn't automatically qualify for the Residential Clean Energy Credit. However, if you invest in certain types of solar roofing equipment like solar roofing tiles and shingles which serve as both a form of solar electric generation and traditional roofing, such investments can qualify for the credit.
Roofs (Metal and Asphalt) – A credit of 30% of the cost, up to $500, is available for roofing materials that meet the requirements and have the proper pigmented coatings and cooling granules. This credit does not cover installation costs.
See the IRS Instructions for Form 5695 and this TurboTax help article for more information."
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
fucndfsdsfddfdf
Returning Member
libertad1
New Member
pnturbo17
New Member
ncraw2099-aol-co
New Member
ozzy032
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.