tax-creditsIt’s that time of year again – time to file taxes. Not always the most pleasant time of the year for some, but on a positive note, there are tax credits available for insulation installation!

A Federal tax credit for 10% of the cost (not including installation), up to $500 is available. The insulation must be installed in your primary residence between January 1, 2011 and December 31, 2016. Fiberglass batts, blow in fibers, rigid boards, expanding spray and pour-in-place are accepted. Other products that seal air can also qualify (that reduce air leaks) as long as a Manufacturer’s Certification statement is included. Examples include: Weather stripping, spray foam in a can designed to air seal, caulk designed to air seal and house wrap. DIY can also get the credit! (Note that new construction homes and rental homes do not qualify.)

To apply for this tax credit – file IRS Tax Form 5695

An Indiana tax credit for up to 10% of the cost up to $500.00 (aggregate amount of credit) for insulation materials installed (labor is not included) from 2011 – 2016. This is a one-time tax credit and cannot be eligible for additional credits for any new equipment purchases. Credits can be taken for building envelope improvements of existing homes. The insulation must meet “prescriptive” requirements established under the 2009 International Energy Conservation Code (including supplements): insulation materials must reduce a home’s heat loss or gain.

To apply for this tax credit – file for 5695:Residential Energy Credits

A Kentucky tax credit for 30% of the installed cost, up to $100.00 is available. Insulation R-value requirements are necessary for this credit. The insulation must be installed between January 1, 2009 and December 31, 2015.

To apply for this tax credit – file Form 5695-K KY Energy Efficiency Products Tax Credit

(Graber Insealators of Louisville is in no way a tax credit expert, so check with your accountant prior to filing for this credit and check the links we have provided for more information. This is for informational purposes only.)

Good Luck with your project! If Graber Insealators of Louisville had the opportunity to assist with your insulation needs during this timeframe please give us a call to get the information needed to file your tax forms.

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