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posted Jun 6, 2019 1:28:04 AM

I replaced my entire roof down to the plywood even, soffit, facia and gutters, how do I use this as a tax deduction, I have tried several times and it does not give me that option. Please help

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Employee Tax Expert
Jun 6, 2019 1:28:05 AM

Replacing a roof on a primary residence would not be deductible. The total cost of the improvement would be added to your basis and comes into play when you sell your home.

Roof improvements made to a rental or business property, would also not be deductible. But the costs are added to the Asset section  and depreciated over their useful life.

2 Replies
Employee Tax Expert
Jun 6, 2019 1:28:05 AM

Replacing a roof on a primary residence would not be deductible. The total cost of the improvement would be added to your basis and comes into play when you sell your home.

Roof improvements made to a rental or business property, would also not be deductible. But the costs are added to the Asset section  and depreciated over their useful life.

Alumni
Jun 6, 2019 1:28:08 AM

Repairs, maintenance, and improvements  to your personal residence property are not deductible from current income. If you make major improvements which increase your home’s market value or extend its useful life, you can add the cost of the improvements to the cost basis of your home, and you get the benefit when you sell.
You might find it helpful to read IRS Pub. 530, Tax Information for Homeowners
http://www.irs.gov/pub/irs-pdf/p530.pdf