We installed shutters in our home last year. Does this qualify us for any type of Home Energy Credit?

melwat1981 — Thu, 06 Jun 2019 09:57:46 GMT

No, unfortunately not. Please review the following list...

SandraM — Thu, 06 Jun 2019 09:57:47 GMT

No, unfortunately not. Please review the following list for the home improvements that qualify:

Nonbusiness Energy Property Tax Credit

Equipment and materials can qualify for the Nonbusiness Energy Property Credit only if they meet technical efficiency standards set by the Department of Energy. The manufacturer can tell you whether a particular item meets those standards. For this credit, the IRS distinguishes between two kinds of upgrades.

The first is "qualified energy efficiency improvements," and it includes the following:

Home insulation
Exterior doors
Exterior windows and skylights
Certain roofing materials

The second category is "residential energy property costs." It includes:

Electric heat pumps
Electric heat pump water heaters
Central air conditioning systems
Natural gas, propane or oil water heaters
Stoves that use biomass fuel
Natural gas, propane or oil furnaces
Natural gas, propane or oil hot water boilers
Advanced circulating fans for natural gas, propane or oil furnaces

Details of nonbusiness tax credit

You can claim a tax credit for 10% of the cost of qualified energy efficiency improvements and 100% of residential energy property costs. However, significant limits apply:

This credit is worth a maximum of $500 for all years combined, from 2006 to the present.
Of that combined $500 limit, a maximum of $200 can be for windows.
The maximum tax credit for a furnace circulating fan is $50.
The maximum credit for a furnace or boiler is $150.
The maximum credit for any other single residential energy property cost is $300.

Please review the following article for more information:

https://turbotax.intuit.com/tax-tips/home-ownership/energy-tax-credit-which-home-improvements-qualif...

topic We installed shutters in our home last year. Does this qualify us for any type of Home Energy Credit? in Deductions & credits

We installed shutters in our home last year. Does this qualify us for any type of Home Energy Credit?

No, unfortunately not. Please review the following list...