Are Roof Repairs Deductible?

You might have needed to repair your roof last year because of storm or tree damage, or because it had just gotten old and tired.  Now that it’s coming up on tax season, you may be wondering if you can deduct the cost of your roof repair off of your taxes. The answer is no, or maybe yes.  Confused?  Don’t worry – tax laws can be as clear as mud. Read on to learn more about taking roof repairs off of your taxes.

Whether or not you can deduct Vancouver roof repairs, you should keep a folder of all of the home repairs and home improvements you make.  It can come in handy should you choose to sell your home, and in case you need to look up any work for warranty reasons.

The improvements you make to your home add to its value – things like adding a pool or building an addition onto your house.  These can help with the tax burden that occurs when you sell your house and are expected to pay taxes on the profits.

Home improvements, generally speaking, are tax deductible, whereas home repairs are not.  But even if an improvement is not tax deductible right away, as we saw above, it can help you later on down the road.

Repairing a broken window or repairing your roof are considered to be home repairs, not improvements.  Repairs are those things you need to do to keep your home healthy.  They, generally speaking, do not put your home in a better position than it was before the project began.

Here’s where things get confusing.  If a roofing contractor puts a whole new roof on your house, that might be considered an improvement, because you are making your house better than it was before.  To be sure about the definition and whether it qualifies as a tax deduction, check with a tax professional.

Another way you might be able to take a roof repair off of your taxes is if it was over your home office.  Some or all of the costs of repairs to the room or rooms you use for a dedicated home office are tax deductible.  If you have to repair a larger part of the roof, you can deduct a percentage.  Let’s say your home office square footage is 10% of your home’s overall square footage.  If you have to repair your entire roof, you can take 10% of the cost off of your taxes.

There is another reason you might be able to deduct part of your home repair costs – if you rent a room or suite in your home.  Only repairs that occur over the room being rented can be fully deducted; otherwise the percentage rule we covered under home office deductions would apply.

The safest way to see if you can take a home improvement or home repair off of your taxes as a deduction is to have a tax professional or accountant help you.  It might save you quite a bit, so it’s worth investigating.