This is great news for homeowners wanting a tax break for making a smart investment in a new roof.
Metal roof energy credit 2016.
At the end of 2016 the clock runs out on several federal tax credits for homeowners who made energy upgrades during the year.
Government approved a 500 tax credit for qualifying metal roofs installed in 2015 and 2016.
Metal roofs with appropriate pigmented coatings and asphalt roofs with appropriate cooling granules that also meet energy star requirements are eligible.
This tax credit is for energy star certified metal and asphalt roofs with pigmented coatings or cooling granules designed to reduce heat gain.
There is a total combined credit limit of 500 for all purchases improvements for all years since 2005.
If you are not eligible to take the credit.
Learn more and find products.
Federal tax credits for consumer energy efficiency what is included in the 2011 2016 federal tax credit.
Qualified metal roof products reflect more of the sun s rays which can lower roof surface temperature by up to 100f decreasing the amount of heat transferred into your home.
In december congress extended the residential energy efficient property credit through the end of 2016 which included tax credits for energy star metal roofing.
A tax credit reduces the amount of tax owed so it s different from a tax deduction rebate or refund.
This tax credit is for energy star certified metal roofs with pigmented coatings designed to reduce heat gain.
10 of cost note.
If you installed an energy star certified roof you can take a tax credit using form 5695 residential energy credits.
Energy star tax credits reduce your tax liability dollar for dollar rather than a mere deduction which only removes a percentage of the tax that is owed so they are actually more.
This provides a new marketing opportunity for the metal roofing industry as this is the first time in several years that the tax credit isn t just retroactive but is guaranteed for the current year.
Use energy saver s reference list below to see if you are eligible for qualifying credits when filing irs tax form 5695 with your taxes.
The deduction applies to roofs installed between january 1 2011 and december 31 2020.
Homeowners can receive a tax credit of 10 of the cost up to 500 for interlock metal roofing systems installed on their principal residence.
Summary of tax credit under the bipartisan budget act of 2018 which was signed in february 2018 a number of tax credits for residential energy efficiency that had expired at the end of 2016 were renewed.
The energy star metal roof tax credit was extended from december 31 2017 to december 31 2020.
