Per IRS Form 5695 a non-business energy property credit will be available in tax year 2009. The credit is limited to $500 and is for items such as high-efficiency heating and cooling systems, water heaters, windows, doors, and insulation that were placed in service during 2009. In addition, the amount of the credit will be limited by the amount of any non-business energy property credit you took in 2006 or 2007.
Examples of home improvements that may qualify as tax credits are listed below:
* exterior doors and windows
* storm windows
* skylights
* metal roofs
* insulation
* central air conditioning and heating
* geothermal heat pumps
* hot water boilers
* advanced main air circulating fans
* biomass fuel stoves with a thermal efficiency rating of 75% or more
* asphalt roofs with cooling granules
We recommend you visit and discuss with your your tax preparer before making any purchase you intend to claim as a tax credit.
Jan 17, 2009
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