Insulation expenses

[TAX]

Clinet insulation blown in attic in 2006 and paid $950 for this. Can he deduct it under new energy tax credit?

Thanks!

[fliszt]

Please look at

TTB 11-11 says " . . . Energy efficiency improvements 10% of the amount paid or incurred to purchase eligible bldg envelope compnents that were installed during the tax year: Insulation material/systems that reduce heat loss/gain.'

[Larmil]

My standard answer

Clinet insulation blown in attic in 2006 and paid $950 for this. Can he deduct it under new energy tax credit?

Thanks!

if the energy credit is to be taken is:

"Anything other than exterior windows with a Energy Star label requires that the client obtain a 'Manufacturer's Certification Statement'". < PERIOD >

I do not know if the insulstion meets the specs. The client doea not know if the insulation meets the specs. The salesperson probably neither knows or cares if the insulation meets the specs.

[Gene V]

Chart

Here is a good chart that Bob W. posted on energy credit

http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#chart

[TAX]

TTB 11-11 says " . . . Energy efficiency improvements 10% of the amount paid or incurred to purchase eligible bldg envelope compnents that were installed during the tax year: Insulation material/systems that reduce heat loss/gain.'

I forgot to mention that this is his residence and not business

[jainen]

>>requires that the client obtain a 'Manufacturer's Certification Statement'"<<

Unfortunately, there is no requirement that manufacturer's provide such a certification, and I can think of a whole lot of reasons why they wouldn't. Since the manufacturers do not have any control over the way the product is installed, there really is no way they can certify the performance of their products.

The law says the taxpayer may rely on such a certification if it exists. Nowhere does it say a taxpayer is required to obtain one.

[Larmil]

Not the law - My policy

>>requires that the client obtain a 'Manufacturer's Certification Statement'"<<

Unfortunately, there is no requirement that manufacturer's provide such a certification, and I can think of a whole lot of reasons why they wouldn't. Since the manufacturers do not have any control over the way the product is installed, there really is no way they can certify the performance of their products.

The law says the taxpayer may rely on such a certification if it exists. Nowhere does it say a taxpayer is required to obtain one.

You can take an energy credit on a high efficiency 50 gallon gas hot water heater if your client insists. Your client may know the specs beter than my clients do.