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Clock ticking on energy credit
$1,500 tax credit available for people who winterize homesDate published: 11/6/2009 BY BILL FREEHLING People who want to take advantage of a $1,500 federal tax credit for weatherizing their homes need to act soon if they want to claim the credit this tax year. The federal stimulus package that President Obama signed in February allows people to get the $1,500 tax credit if they purchase and install a variety of qualifying energy-efficient products for their primary residence by the end of the year. Qualifying products include windows and doors, insulation, metal and asphalt roofs, heating and air conditioning systems, water heaters and biomass stoves. Go to energystar.gov for more details about product requirements. Individuals and married couples are eligible to receive a federal tax credit of 30 percent of the amount paid for the product, up to a maximum of $1,500. Installation costs can be included for some of the products. Therefore, people who buy energy-efficient products costing $5,000 or more qualify for the full tax credit. The offer lasts through the end of 2010, but the installations must be completed by the end of this year if people want to claim the tax credit on their 2009 returns. People who miss the deadline can take advantage of the tax credit next year. The $1,500 is the maximum over the two-year period. Homeowners should save their sales receipts and manufacturer certification statements to file with their tax documents. Bill Freehling: 540/374-5405
Date published: 11/6/2009
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