Stimulus tax credits for energy-efficient home upgrades

Now is a great time to upgrade your home's exterior doors, windows, roof, insulation, water heater, furnace, or HVAC. Homeowners may claim a tax credit for eligible energy-efficient or renewable energy home improvements costs.

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How To

How To

Get tips about how to qualify for and claim the tax credit.

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|Olivia

Energy Tax Credit Home Profile: Olivia

Olivia decided to replace her old furnace to save on heating costs. On March 14, 2009, she purchased a new energy-efficient furnace for $5,000. Her new furnace qualifies for the ARRA Non-Business Energy Property Tax Credit, so Olivia can claim the full 30% tax credit on the new furnace price when she files her 2009 federal income tax return.

Olivia's Furnace Upgrade Cost:
 $5,000  New Furnace Purchase Price
$1,500  ARRA Energy Tax Credit for 2009
=$3,500  True Cost to Olivia with Tax Credit

This profile is provided for illustrative purposes only. It is not intended to provide actual tax savings or financial advice. Consult your tax advisor.

To estimate the True Cost of your energy-efficient home improvements, click here.

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The information contained herein is drawn from sources that are believed to be reliable, but it cannot be guaranteed as to completeness or accuracy. The content is not intended to be, and should not be relied upon as, tax, legal, or financial planning advice. Consult your tax advisor for specific advice.

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