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Form 5695 Again

athaureaux6
Level 8

Hi online community, I am re-asking the question again about the metal and asphalt roof for tax year 2023. I just finished reading the instructions for tax year 2023, and they seemed to be updated on December 18th, on page 3 they mentioned the metal and asphalt roof improvements, but if you look at the form itself I do not see a place for the roof. Am I wrong? or maybe I am not looking clearly. Any comments will be appreciated. Happy holidays everybody. 

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2 Comments 2
qbteachmt
Level 15

"The present Residential Energy Efficient Property Credit, which also receives a new name under the Inflation Reduction Act, is an energy tax credit that many homeowners can claim on their tax returns.

The new name is the Residential Clean Energy Credit."

From: https://nationaltaxreports.com/what-are-energy-tax-credits-homeowners/

I always look at article dates, as well, for confirmation that it is current. This is from October 2023:

https://americantaxservice.org/home-energy-tax-credits/

On the draft instructions dated December 19, 2023, for Form 5695 tax year 2023, there is:

"Qualified energy efficiency improvements. Qualified energy efficiency improvements are the following building envelope components installed on or in your main home that you owned during 2023 located in the United States if the original use of the component begins with you, the component can be expected to remain in use at least 5 years, and the component meets certain energy standards.

• Any insulation material or system and air sealing material or system that is specifically and primarily designed to reduce heat loss or gain of a home when installed in or on such a home.
• Exterior windows and skylights.
• Exterior doors.
• Any metal roof with appropriate pigmented coatings or asphalt roof with appropriate cooling granules that are specifically and primarily designed to reduce the heat gain of your home.

For purposes of figuring the credit, don't include amounts paid for the onsite preparation, assembly, or original installation of the building envelope component."

https://www.irs.gov/pub/irs-dft/i5695--dft.pdf

pgs 2-3, Energy Efficient Home Improvement Credit
(Part II)
Section A—Qualified Energy Efficiency Improvements

"Am I wrong?"

You are worrying needlessly. You're too early. Happy holidays.

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"Level Up" is a gaming function, not a real life function.
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Maikens
Level 1

The 5695 Instructions update from Jan 25, 2024 do not include the line about roofing.

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