Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Aug 21, 2022 4:30:41 AM

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?

0 3 635
3 Replies
Level 15
Aug 21, 2022 7:11:53 AM

The credit was extended past 12/31/21. 

Level 15
Aug 21, 2022 7:15:53 AM
Level 15
Aug 21, 2022 7:20:19 AM

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-efficient-home-improvement-credit/01/2764314#M18