If you have made any energy-efficient home improvements since 2006 and have not claimed a tax credit of $500 or more for them already, you may be eligible for a tax credit of up to $500 for improvements made before the end of 2013. The types of items that qualify are listed below:
1) Up to $300 in materials and labor for some energy-efficient electric water heaters and heat pumps, central a/c units, and biomass stoves.
2) Up to $150 for certain energy-efficient propane, natural gas, or oil furnaces and boilers.
3) Up to 10% of the cost, excluding installation, of some energy-efficient insulation, doors and skylights, and certain metal and asphalt roofs.
4) Up to 10% of the cost up to $200 only, excluding installation, of certain energy-efficient windows.
You will need your receipts and also manufacturer documentation, so keep the paperwork for when you file your taxes!
Illinois Real Estate Law Blog
Sunday, November 24, 2013
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