Residential Energy Property Credit
(Section 1121): CLICK HERE
The new
law increases the energy tax credit for homeowners who
make energy efficient improvements to their existing homes.
The new law increases the credit rate to 30 percent of
the cost of all qualifying improvements and raises the
maximum credit limit to $1,500 for improvements placed
in service in 2009 and 2010.
The credit applies to improvements such as adding insulation,
energy efficient exterior windows and energy-efficient
heating and air conditioning systems.
A similar credit was available for 2007, but was not
available in 2008. Homeowners should be aware that the
standards in the new law are higher than the standards
for the credit that was available in 2007 for products
that qualify as “energy efficient” for purposes
of this tax credit.
For property purchased before June 1, 2009, homeowners
generally can rely on the manufacturers’ certifications
and Energy Star labels that were available at the time
for those products. Manufacturers have been advised
that they should not continue to provide certifications
for property that fails to meet the new standards. The
IRS has issued Notice 2009-53 that will allow manufacturers
to certify that their products meet the new standards.
Please note, not all ENERGY STAR qualified products
qualify for a tax credit. For detailed information about
qualifying improvements, visit the U.S. Department of
Energy’s EnergyStar Web site
MHSC (Vermont Castings) Certificate of Eligibility
Pacific Energy Certificate of Eligibility
Enviro Certificate of Eligibility
Vistaflame Certificate of Eligibility
Pinnacle Stoves Certificate of Eligibility
To take advantage of the tax credit through the IRS
any residential homeowner will need to fill out a the
Residential Energy Credits 5695 form. To properly receive
the tax credit, line 3a "Energy-efficient building
property" must be filled out to reflect the 30%
tax credit.
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