If you installed or are planning to install energy efficient windows in 2012 or 2013 you may be eligible to receive a tax credit. There are certain rules and requirements, but those will be addressed in detail on this page.
The Federal tax credits for certain energy efficient home improvements, including replacement windows, have been extended through December 31, 2013. The first requirement is having had replacement windows installed within this timeframe.
Another requirement involves the replacement windows meeting the Energy Star Windows Program performance requirements. These replacement window requirements are in effect from January 1, 2012 through December 31, 2013.
The next step would be to save your sales receipt, product performance data sheets, and any documentation from the manufacturers to support the performance requirements are met for your tax preparation. When it is time to prepare you taxes you can claim the tax credit associated with your replacement windows on your Federal filings for the 2013 tax season.
As far as limitations on the program go, the tax credit is for the product cost only. This means any installation costs are not covered. The tax credits are 10% of the product costs for replacement windows up to maximums set by the program. $500 maximum total tax credit for any and all replacement window costs and other qualifying home improvements. Other maximums may apply and are contingent on types of replacement windows and other home improvements.
That should give you a fairly good understanding of how these Federal tax credits work with replacement windows. As with any tax credit program the requirements are subject to change and you should check with either a tax professional, the IRS, or ask about any programs available during your free, in-home consultation. Call 208-376-0000 now to speak with someone about replacement windows.
