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WINDOW TAX CREDIT INFORMATION

Federal Tax Credits for Installing Windows in Pensacola and Fort Walton Beach, Fl

On February 17, 2009 President Obama signed into law the American Recovery and Reinvestment Tax Act of 2009. This bill extends and modifies the tax credits for windows, doors, and skylights established in the Energy Policy Act of 2005. The following guidance is not intended as legal advice, and you should consult a tax professional with specific questions.

Homeowners can now claim a federal tax credit of up to $1,500 for upgrading their primary residence with energy-efficient windows and exterior doors.  This federal tax credit means that homeowners can reduce the purchase price (not including installation costs) of qualified products installed in 2009 and 2010.

Qualifying products purchased between January 1, 2009 and December 31, 2010 are eligible for a tax credit equal to 30 percent of the product cost. The maximum amount of homeowner credit for all improvements combined (including roofing, insulation, HVAC, and water heaters) is $1,500 during 2009 and 2010.

Qualifications

  • Qualified products must have NFRC-certified U-factor and Solar Heat Gain Coefficient (SHGC) ratings equal to or below 0.30.
  • Windows and exterior doors must be installed between January 1, 2009 and December 31, 2010.
  • Products must be installed in the taxpayer’s primary residence.
  • The purchase of qualified windows must be made during the taxable year for which the credit is being claimed.
  • This tax credit is capped at a total of $1,500 for the years of 2009 and 2010.

Claiming Your Federal Tax Credit

  • Federal tax credit claims should be submitted with your taxes from the year that the windows and doors were installed.
  • The IRS form for requesting the home improvement tax credit is IRS Form 5695 (2009 version), which will be available in late 2009 or early 2010. 
  • Homeowners should retain the manufacturer’s NFRC certification label and sales receipt for the records, but are not required to submit them with their tax return. 
  • U-Factor and Solar Heat Gain Coefficient ratings can be found on the National Fenestration Rating Council (NFRC) label that is affixed to every Hometown window or patio door.

About Tax Credits
A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.

**Please note, not all ENERGY STAR qualified products qualify for a tax credit. These tax credits are available for a number of products at the highest efficiency levels, which typically cost more than standard products.  ENERGY STAR distinguishes energy efficient products which, although they may cost more to purchase than standard models, will pay you back in lower energy bills within a reasonable amount of time, without a tax credit.


To learn more about Tax Credits for Replacement Windows or Doors call Hometown Contractors at 1-866-420-2811 or Request a Free Design Consultation.

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