Tax Credits for Replacing Your Roof

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Published: January 24, 2012
By: Gil Rudawsky
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Did you literally put a new roof over your head in 2011? You may be eligible for a $500 energy tax credit for the roof replacement on your 2011 return.

Effort: Low 1 day (research)
Saves: High Up to $45/mo (cooling bills)
Investment: High $21,200 (new roof)

If you took advantage of the government’s 2011 tax credit for adding a heat-efficient metal or asphalt roof to your house, you’ll be better equipped to fight August’s heat. To claim the $500 credit, file IRS Form 5695.

Tax credit limits and deadlines:

10% of expenditures, up to $500 for the year, for all energy improvements combined.

A relevant roof must have been installed by Dec. 31, 2011.

Save receipts and labels.

For roofs, installation isn’t covered.

See Energy Star for guidelines on what exactly is covered. It’s your safest bet for information on how to get the credit.

Be warned that not all roofs, not even all roofs with the Energy Star seal, will qualify. Only specially manufactured roofs, as listed on the Energy Star site, are eligible.

Don’t rely solely on contractors who may not know the details or who promise their products will get the credit in order to make a sale.

As of January 2012, the feds haven’t extended the energy tax credit for roofs beyond 2011.

Next: Roof costs and savings

Gil Rudawsky

Gil Rudawsky has covered business and consumer issues for 18 years, most recently as a deputy editor at the Rocky Mountain News. He lives in a house built in the 1930s, and always keeps the home’s character in mind when making upgrades.

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