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Garage insulation? - energy credit

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    Garage insulation? - energy credit

    Client had her attached garage insulated. Does this qualify for the 10% energy efficient improvements? (If the manufacturer certifies it meets the standards, that is.) She also insulated the basement & I believe that qualifies.

    The bill of course is one lump sum for the work & insulation. How is everyone breaking these out since the credit is only for cost of materials?

    I love tax simplification!

    #2
    not "of course."

    >>The bill of course is one lump sum for the work & insulation<<

    That is not "of course." A legitimate contractor would itemize the materials and labors, especially in states with sales tax. At any rate, the taxpayer is the one who has to break out the cost to support the deduction, not the tax preparer.

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      #3
      Originally posted by KJ Judd View Post

      How is everyone breaking these out since the credit is only for cost of materials?
      When all else fails; estimate -- what about 50-50 or 75/25? They're not gonna check these pea-jink items anyway. Or tell the contractor you don't mind paying a good, solid price for materials, but you just hate it when somebody overcharges for labor.

      I love tax simplification
      Me too -- especially that "unified credit" for dependency, HOH, EIC, CTC, CC. Could it even possibly have been laid out more clearly?

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