Home Insulation Tax Credit

[The_Bill_S]

Does the new Inflation Reduction Act just signed into law, reinstate tax credits for home insulation improvements made for energy conservation?

[Critter-3]

The credit was extended past 12/31/21. 

[tagteam]

See https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/16/fact-sheet-how-the-inflation...

See also BILLS-117hr5376enr.pdf (congress.gov)

[Opus 17]

The credit that expired at the end of 2021 is extended as-is through December 31, 2022. This means a 10% credit with a lifetime cap of $500.

The credit was enhanced beginning January 2023 to 30% of improvements with a $1200 annual cap, and some of the definitions were changed. But this enhancement does not take affect until January 1, 2023.

see here for more.

https://ttlc.intuit.com/community/tax-law-changes/discussion/revisions-to-section-25c-energy-efficie...