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We just insulated our attic with spray sealant and 5 inches of foam. What tax breaks are we entitled to and how do we apply for a tax rebate?

Submitted: 88 days and 9 hours ago.

Category: Tax

Value: $15

Status: CLOSED

Country/State/Province of question: Lake Co, Florida

Already Tried:
Calling the company who insstalled the product. They are located in the northern part of US. They told me to use a search engine to find a form to submit...I'm lost.

Accepted Answer

Hopster2009,
Thank you for sending in a question.

Insulation is definitely one of the tax credit that you can claim. The maximum credit allowed is $1,500 and it a credit given when you file your tax return Form 1040 for the year that the insulation was installed. I am assuming that you just installed the insulation this year; thus, you can claim the credit this year. You will have to file Form 5695 and attach it to your Form 1040 when you file after year end. I have attached 2008 Form 5695 for your reference. Just click on the form number to launch it. 2009 Forms are not ready yet.

If you want to read up about the energy credit allowed by the IRS, see link below:
http://www.irs.gov/newsroom/article/0,,id=211307,00.html

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Accepts:
Expert:	Kophy
Pos. Feedback:	100.0 %
Answered:	8/28/2009

Certified Public Accountant (CPA)

CPA with Big 4 public accounting experience and now working as an Internal Audit Director.

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We just insulated our attic with spray sealant and 5 inches of foam. What tax breaks are we entitled to and how do we apply for a tax rebate?

Optional Information

Country/State/Province of question: Lake Co, Florida

Already Tried:
Calling the company who insstalled the product. They are located in the northern part of US. They told me to use a search engine to find a form to submit...I'm lost.

Accepted Answer

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Question

We just insulated our attic with spray sealant and 5 inches of foam. What tax breaks are we entitled to and how do we apply for a tax rebate?

Optional Information

Country/State/Province of question: Lake Co, Florida Already Tried: Calling the company who insstalled the product. They are located in the northern part of US. They told me to use a search engine to find a form to submit...I'm lost.

Accepted Answer

Related Tax Questions

Country/State/Province of question: Lake Co, Florida

Already Tried:
Calling the company who insstalled the product. They are located in the northern part of US. They told me to use a search engine to find a form to submit...I'm lost.