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chalkda01
New Member

Hi there, I had home insulation installed on my home but I do not see a credit for that in the form 5695, residential energy credit. Does that still exist?

 
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Hi there, I had home insulation installed on my home but I do not see a credit for that in the form 5695, residential energy credit. Does that still exist?

No and Yes..

No...it isn't in the current approved form 5695 for 2017

Yes, it was just passed in the last budget bill on 9 Feb, and retroactively included and will eventually be available for your 2017 taxes.  BUT The form 5695 in the tax software may take a month or more to get changed to include it (Blame that on congress).  

First the IRS has to now reprogram their computers in the middle of a busy tax season, 

....and then they have to notify the software companies how they want them to implement the changes.

.........then each company's software has to be RE-programmed, and to be tested with the IRS before it can be trotted out to the customers.  (Mid March...maybe but that's a wild guess)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

View solution in original post

1 Reply

Hi there, I had home insulation installed on my home but I do not see a credit for that in the form 5695, residential energy credit. Does that still exist?

No and Yes..

No...it isn't in the current approved form 5695 for 2017

Yes, it was just passed in the last budget bill on 9 Feb, and retroactively included and will eventually be available for your 2017 taxes.  BUT The form 5695 in the tax software may take a month or more to get changed to include it (Blame that on congress).  

First the IRS has to now reprogram their computers in the middle of a busy tax season, 

....and then they have to notify the software companies how they want them to implement the changes.

.........then each company's software has to be RE-programmed, and to be tested with the IRS before it can be trotted out to the customers.  (Mid March...maybe but that's a wild guess)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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