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April 13, 2025
Question

Can I deduct a new roof that cost $29,000.00 because in CA my homeowners insurance was going to be cancelled if i did not get a new roof?

  • April 13, 2025
  • 1 reply
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This would be for year 2024 filing.

    1 reply

    April 13, 2025

    No. There's no deduction for a roof, unless it's for a rental property, then you can depreciate it.

     

    Improvements to increase value of a personal residence aren't deductible.

     

    However, keep the receipt as the improvement increases your cost basis, which can lower your capital gain if you have one when you sell the house.