Energy efficiency in your home: Will you get a tax credit?
Apr 12, 2012, at 9:00 am by Berit Griffin
It’s almost Tax Day! It might not be the biggest day of celebration, but there are some tax breaks for homeowners that we heard about from Bob Vila. Will you get a tax credit for anything home related?
- Energy-efficient home improvements can help land you a tax break. If, for example, you replaced your windows with energy efficient ones, you could be eligible for this tax break on your primary home.
- Unfortunately, if you built a new house, the energy efficient breaks aren’t available to you. But if you replaced, renovated or retrofitted, you might qualify.
- Sometimes you can get a tax break for installation costs, and sometimes not. Check carefully.
- Save ALL documentation of your energy-efficient replacement efforts. You’ll need to submit documentation and you don’t want to be caught short during an audit!
As always, remember to consult your tax professional if you have any questions about tax breaks for home improvements.
Image courtesy of401K on Flickr.