Although new legislation has reduced the amount of the tax credit and changed the qualifying criteria, consumers are still eligible for tax credits for making their homes more energy efficient in 2011. Here is a quick recap of the 2011 federal tax credits available for windows and doors:
The new 2011 legislation provides a consumer tax credit up to $200 for 10% of the cost of qualified replacement windows, (new-construction products are not applicable), or up to $500 for 10% of the cost of qualified doors. This new tax credit applies to ENERGY STAR labeled windows and doors installed between January 1, 2011 and December 31, 2011.
There is one slight “catch” however. Consumers are limited to a lifetime maximum tax credit of $500 for any combination of tax credit qualifying products (windows, doors, insulation, HVAC, roofing, etc) from Jan 1, 2006, to Dec. 31, 2011. That means that consumers who have already reached or exceeded the $500 limit are not eligible to claim the credit in 2011.
Although this credit is much reduced, it’s still “free money” for those who are considering purchasing windows or doors and have not taken advantage of the previous tax credits.
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