We had our house wrapped in new vinyl siding, we also had need energy efficient windows installed throughout the whole house and had a new roof put on, is any of this qualify for a tax credit?
Yes! The following that qualify are the energy efficient windows and certain roofing materials. Please review the following list of home improvements that would qualify:
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.
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:
[Edited 2.18.18|12:16 PM]
Yes! The following that qualify are the energy efficient windows and certain roofing materials. Please review the following list of home improvements that would qualify:
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.
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:
[Edited 2.18.18|12:16 PM]
when will Turbotax update it's Form 5695 to reflect the new nonbusiness tax credit for tax year 2017? Right now I am only being prompted with questions related to solar efficiency.
I have the same question -- I'm waiting to file as soon as Tax updates.