The stimulus bill that the president signed on February 17, 2009 provides for tax credits for various home improvements that make your residence more energy efficient. Those home inprovements could be new windows and doors, roofs, and air conditioning.
The tax credit is 30% of the cost of the home improvement with a limit of $1500 for all home improvements. You can find complete information at the Energy Star website.
The minimum SEER (Seasonal Energy Efficiency Ratio; like miles-per-gallon for your air conditioner) that qualifies is:
Straight Cool Split System 16 SEER
Straight Cool Package 14 SEER
Heat Pump Split System 15 SEER/8.5 HSPF
Heat Pump Package 14 SEER/8 HSPF
Must be “placed in service” from January 1, 2009 through December 31, 2010 must be for taxpayers principal residence
Maximum amount is $1,500 in 2009 & 2010 for most home improvements. $1,500 is the total deduction for all home improvements.
Must have a Manufacturer Certification Statement to qualify. The ARI Certificate may qualify as a Manufacturer Certification Statement
For record keeping, save your receipts and the Manufacturer Certification Statement improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) — use IRS Tax Form 5695 (2009 version) — it will be available late 2009 or early 2010
Please check with your tax accountant to see if you qualify.
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