Thursday, August 24, 2006

Tax credit for home improvements

Taxpayers who make certain energy effecient improvements to their homes may be eligible to claim a credit for a portion of those expenditures. The improvements must be made between January 1, 2006-December 31, 2007. Eligible improvements include:
  • Insulation systems reducing heat loss/gain
  • Exterior windows and doors
  • Metal roofs that meet applicable Energy Starâ„¢ requirements

The maximum credit for both years is $500, of which no more than $200 may be attributable to expenses for windows.


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