Thursday, October 24, 2013

Window replacements are still deductible in 2013

2012–2013 Tax Credit for ENERGY STAR Qualified Windows, Doors and Skylights

Homeowners may claim a tax credit for the purchase of ENERGY STAR qualified windows, doors, and skylights in 2012 or 2013. The following guidance is not intended as legal advice. It is recommended that you visit www.irs.gov Exit ENERGY STAR or consult a tax professional with specific questions.
To be eligible for the credit, windows, doors, and skylight must:
Homeowners may receive a tax credit equal to 10% of the product cost (installation costs may NOT be included) up to:
  • $200 for eligible windows and skylights
  • $500 for eligible doors
Homeowners may receive no more than $500 total for all energy efficiency tax credits. If you claimed an energy efficiency credit in a previous taxable year, please consult a tax professional or visit www.irs.gov Exit ENERGY STAR to determine your remaining eligibility for this credit.
For more information about this credit or those from previous years, visit www.irs.gov Exit ENERGY STAR and see the instructions for Form 5695, Residential Energy Credits.