Tax Return Cost
July 28th, 2006
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Question: Tax return?
Is it true that if my husband and I paid for a new air handler unit (13 seer 2.5 ton) for our home in 2007 that our out of pocket costs are tax deductible?
Answer: If your new air handler meets the energy efficiency requirements, you would complete Form 5695 (Residential Energy Credits). Using that form, you would calculate how much of a credit you would get for your out-of-pocket costs.
http://www.irs.gov/pub/irs-pdf/f5695.pdf
Not all tax preparers are created equal, so choose yours carefully
Looking for help with your taxes and wondering what it might cost? The average fee in Illinois is $192 for the preparation of an itemized Form 1040 with Schedule A and a state tax return, according to a survey by the National Society of Accountants. Nationally, the average is $229.The average fee in Illinois to prepare a Form 1040 and state return without itemized deductions is $102, the survey …
Save Me From My Tax Return!
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