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2011 Energy Tax Credit
On December 17, 2010, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was signed into law. Under this law, the tax credit for energy-efficient windows, doors, and skylights has been extended through 2011with modifications.
The 2011 tax credit stipulates the following:
Exterior windows, skylights, and exterior doors must meet ENERGY STAR program requirements.
Homeowners may claim 10% of product cost (installation costs may NOT be claimed).
For the taxable years of 2006-2011, homeowners may claim no more than (a) $200 for windows and skylights (doors are excluded from this cap), and (b) $500 total for all energy efficiency credits.
Products must be installed in a taxpayer’s primary residence by December 31, 2011.
Mor information is available at www.energystar.gov/taxcredits.
The Internal Revenue Service (IRS) decides what documentation is necessary for tax credits, but work on 2011 tax documents and policy will not begin until the current tax year ends in April. Until IRS issues a guidance document for this tax credit, homeowners should save all available documentation, such as purchase receipts, ENERGY STAR labels, and manufacturers’ certification statements. Additional information will be provided if and when it is made available from the IRS.