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QUESTION DETAIL
Related User
Votes
I had a lot of home improvements done on my home in 2009 such as new windows, added insulation in ceiling and walls, siding and a new front door. What is allowable in terms of rebates on my 2009 taxes?
ANSWER
The BIDaWIZ Team's Answer:
See IRC 25C & 25D. You may deduct 30%, of the expenditures,
as a credit, on Form 5695, of your Form 1040; "up to" $1,500.
So if the expenditures exceed $5K, you are entitled to a $1,500
tax credit, on Form 5695. Otherwise, the credit equals 30%
of the expenditure amount.
