The Insulation You Added To Your Home This Year May Entitle You To A Tax Credit

The Insulation You Added To Your Home This Year May Entitle You To A Tax CreditHave you been considering adding insulation to your home this winter? You know you’ll appreciate increased energy savings by restricting hot air from rising up through your attic, but there’s an additional benefit available for homeowners until Dec. 31, 2011: the insulation tax credit.


By increasing insulation in your attic this winter, you could receive 10 percent of the cost of materials, or up to $500, if you place the insulation into service before the last day of December. And, while the cost of installation isn’t covered in the insulation tax credit, you can install the product yourself and still qualify.


All the usual bulk insulation products qualify for the tax credit, including rolls, batts, rigid boards, blow-in fibers, pour-in-place and expanding spray insulation. In addition to these materials, you may even be able to add air-sealing products to your tax credit as long as they are accompanied by a manufacturer’s certification statement. These products include weather stripping, spray foam, house wrap and caulking, all of which are designed to improve the seal of your home and save energy on heating and cooling.


To apply for your insulation tax credit, you must wait until the 2011 version of IRS Form 5695 becomes available in early 2012. When it does, you should fill out this form and file it with your 2011 version of the IRS 1040 tax form, which also won’t be available until early 2012. There will be a place on the 1040 form for you to enter the tax credit information from Form 5695. Make sure you fill everything out completely to avoid complications in the tax credit process. Keep all of your manufacturer’s certification statements with your tax records.


For answers to your insulation tax credit questions or to find a qualified contractor to install the materials you need to qualify for the credit, please contact Symbiont Service

Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems).  For more information about insulation and other HVAC topics, download our free Home Comfort Resource guide.

Symbiont Service Corp. serves Englewood, Florida and the surrounding areas. Visit our websiteto see our special offers and get started today!      

Photo courtesy of Shutterstock.

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