Late in 2014, Congress passed legislation that extended federal tax credits for certain energy-saving home improvements. If Roofing & More installed energy-efficient windows and/or doors in your home in 2014, you may be eligible to claim the Nonbusiness Energy Property Credit on your 2014 income tax return.
The Nonbusiness Energy Property Credit continues a government effort to make energy-saving retrofits more affordable for American homeowners. The credit can be applied toward qualified energy-efficiency improvements for a residence. Here are additional details.
- You may claim 10% of the cost of qualified ENERGY STAR®-rated windows, doors and skylights. The cost of labor and installation is excluded.
- The total energy tax credit claimed on your federal income tax return may not exceed $500.
- Windows are limited to $200 of the credit.
- Credits may only be claimed for improvements to an existing home; new construction is not eligible.
- If you claimed energy credits in any previous tax year, the total credit for all years cannot exceed $500.
At this time, it is unclear if legislation will be passed to extend the Nonbusiness Energy Property Credit to include tax year 2015.
and filing requirements, please contact your tax advisor.
Start 2015 Off Right with New Windows & Doors
Studies conducted by the U.S. Department of Energy have demonstrated that more than 30% of a home’s energy can be lost through inefficient windows and doors. Roofing & More offers Northern Virginia replacement windows and replacement doors that meet and exceed ENERGY STAR® efficiency performance criteria, helping you to reduce energy loss and save money on heating and cooling costs, year after year. Call us today at [company_number] or complete our online quote request form to schedule a FREE in-home consultation and estimate.
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