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Roof with Cooling Granules

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    #1

    Roof with Cooling Granules

    My client spent over 7k on a roof with the cooling granules as described in TTB11-13.
    As I re-read this, there is no credit for this in 2008... He was told there was an energy credit for it.

    Somebody, please tell me there is a credit for this! I have read the online instructions for form 5695 and it does not specifically say roofs.


    Thanks,
    possi
    "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey
    Tags: None
    #2
    Sorry

    but I don't think there is a credit for this in 08.

    Comment

      #3
      2009 yes, 2008 your out of luck.
      http://www.viagrabelgiquefr.com/

      Comment

        #4
        No roof, window, insulation credits for 2008 only...

        Do they lie awake at night and think of ways to screw my clients? How bizarre that they specifically pulled out 2008 from the tax credit! I can't believe it.

        So, do I understand this right that no energy credits for insulation, windows, doors and roofs?

        I do not remember my CE class going over this at all.
        "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey

        Comment

          #5
          I think you understand it correctly......

          The Nonbusiness Energy Property Credits expired as of 12/31/07 and are now reinstated for property placed in service after 12/31/08 and before 01/01/10 with some additions.

          It will now include "an asphalt roof with appropriate cooling granules as a qualified building envelope improvement" and "a natural gas, propane, or oil water heater with a thermal efficiency of at least 90%".
          http://www.viagrabelgiquefr.com/

          Comment

            #6
            wow

            Thanks, y'all.

            I hate these tax laws that jump in and out like that. My daughter bought her first house 2 months before the Tax Credit (loan) was issued.

            "Just another day in Paradise" I suppose.

            Thanks again.
            "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey

            Comment

              #7
              Tell your client that many in the tax world really thought they would make those credits retro to 2008 again. But, they didn't....................
              JG

              Comment

                #8
                I will

                This is a new client, and thank goodness he didn't shoot the messenger~
                "I am proud to pay taxes in the United States. The only thing is I could be just as proud for half the money." Arthur Godfrey

                Comment

                  #9
                  Maybe

                  somewhere down the road they will make it retro to 2008. I have been keeping copies of the receipts just in case that happens. This had made some of clients a little happier.

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