What is the LogiRénov Home Renovation tax credit and how do I enter it in TurboTax?
This refundable tax credit was made available for the 2014 and 2015 tax years to encourage homeowners (and co-owners) to renovate their principal residence, expand it, adapt it to the special needs of a family member or convert it into an intergenerational home.
The LogiRénov tax credit is available only for tax years 2014 and 2015.
For any renovation work to qualify under this credit, the work must have been done by a qualified contractor under a contract entered into between April 24, 2014, and July 1, 2015. The home that you are renovating must have been constructed before January 1, 2014, and must fall under one of the following categories:
- a single-family home, a pre-fabricated house or a mobile home permanently secured in place,
- a condominium apartment, or
- a dwelling in a residential duplex or triplex.
The total cost of the eligible renovation work must be more than $3,000. The amount of the tax credit is equal to 20% of the eligible expenses that exceed $3,000, up to a maximum tax credit of $2,500.
In TurboTax, you can enter the details for the LogiRénov in the Provincial section, under the Quebec credits profile. To access the steps for entering your information, check the box for LogiRénov home renovation tax credit, and follow the prompts to enter your information.