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The_Bill_S
New Member

Home Insulation Tax Credit

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

3 Replies
Critter-3
Level 15

Home Insulation Tax Credit

The credit was extended past 12/31/21. 

Opus 17
Level 15

Home Insulation Tax Credit

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...

 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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