Metal Or Asphalt Roofs With Qualified Coatings Tax Deduction

There is a total combined credit limit of 500 for all purchases improvements for all years since 2005.

Metal or asphalt roofs with qualified coatings tax deduction.

This type of roofing look just like regular asphalt roofing but the granules are treated with a proprietary coating designed to reflect and emit the sun s rays away from your home. Check with your local roofing contractor to see if your metal roof qualifies for the energy tax credit. But in order to qualify your new roof must include certified metal or asphalt with pigmented coatings or cooling granules that are specifically designed to reduce heat gain within the home. This tax credit is for energy star certified metal and asphalt roofs with pigmented coatings or cooling granules designed to reduce heat gain.

There are two types of new roofs that qualify for tax credits. Asphalt and metal roofs. The tax credit is redeemable by homeowners who have installed cool roofing materials. Only certain roofing materials qualify for tax credits.

Form 5695 specifically states that metal or asphalt roofs must meet or exceed the energy star program requirements and have appropriate pigmented coatings or cooling granules that are specifically. However your total credit cannot exceed the lifetime limit of 500 for all tax years after 2005. These materials must also meet other energy star requirements and it is best to check these requirements when choosing materials. Learn more and find products.

Metal roofing and asphalt shingles with cooling granules. Metal roofs with appropriate pigmented coatings or asphalt roof with appropriate cooling granules specifically designed to reduce the heat loss or gain of your home could qualify for the credit. The energy star website lists several owens corning duration products that qualify. This tax credit amounts to 10 of the total cost.

The cost of installation is not included in the tax credit calculation. 2 asphalt roofing made with cooling granules also qualifies for a tax deduction. If the roof was installed in 2016 you can amend your 2016 return to include the expense. If your roof meets energy star standards your roof will reflect more of the sun and reduce surface temperatures by up to 100 f.

Metal roofs with pigmented coatings and asphalt roofs with cooling granules will qualify for this. You can claim back 10 of the cost up to a maximum of 500. However roofs with solar panels and solar shingles may qualify in the near future as they become more affordable and available.