The 2011 Tax Credit offers 10% of the cost of the home improvement up to a maximum of $500.  In order to qualify, the home improvement must be made on an existing home and principal residence.  Windows can only account for $200 of the available $500.  Windows must meet the 2010 Energy Star ratings for both the U Factor and Solar Heat Gain Coefficient to qualify for this credit.  These ratings vary based on the region of the country you are located in.  Please refer to Energy Star to determine what region you are in.  Home improvements must be completed by December 31, 2011 in order to qualify for the tax credit.

To claim the Energy Efficient Tax Credit, you will need to claim the tax credit on your 2011 taxes in 2012.  There will be a form from the IRS to send in with your tax return.

IRS Form 5695, “Residential Energy Credits,” must be filed to claim the credit. Taxpayers must keep a copy of the statement for their records, but do not have to submit a copy with their tax return.

Go to www.energystar.gov/index.cfm?c=products.pr_tax_credits for more details and information on other qualifying home improvements.

Still have questions?  Please contact us if you need more information