Energy Tax Credit for Windows
by Guest Post on Jan 30, 2013
Replacing single pane windows with energy efficient windows can save you between $126 and $465 a year depending on where you live.
You can claim your energy tax credit for home improvements by using online tax software. You will be sure to get the full tax credit for your home energy efficiency improvements that qualify for the tax credits and deductions.
Replacing double pane windows could save you between $27 and $111 a year.
Energy Efficient Home Improvement Tax Credit
Beyond the long term savings, new windows for your home may also be eligible for a tax credit.
When Barrack Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, a set of new tax credits for energy efficient doors, windows, and skylights went into effect.
Energy Tax Credit Requirements
The requirements to meet this tax credit are to first make sure that the windows are “Energy Star” rated and meet the requirements for that rating.
Next, the windows must be installed on your primary residence. Energy efficient windows installed on rental, vacation, or second homes do not qualify for the tax credit.
Finally, the tax credit is limited 10% of the windows or skylights cost up to a total of $200.
Keep in mind the installation costs are not included, only the cost of the windows themselves is eligible for the credit and there is a total limit of $500 for all total energy upgrades total.
Tax Software Helps You Claim Your Energy Tax Credits
If your Energy Star doors, windows, or skylights were purchased before the current tax year, you can file an amended tax return to claim the credit if you had them installed before the expiration date.
Tax software is your best chance to claim your energy tax credits. By answering simple questions the program will fill in your entries into the correct place. Your tax return will be scanned many times before you file to ensure you will not miss any valuable tax credits or tax deductions.
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