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Energy Efficiency Tax Credit Information

Energy Tax Credit Qualified Dealer Eastern Window and Door Co

 

1. What windows and doors are eligible for the credit?

Windows, skylights and exterior doors that meet the ENERGY STAR rating.

 

2. How much is the tax credit?

The tax credit is $200 for windows and skylights and $500 for exterior doors.  The maximum credit for all taxable years for qualifying
products is $500 --- no more than $200 of the credit can
be attributable to expenses for windows and skylights.

 

3. What percentage of the products(s) purchase price is eligible?

Ten percent of the purchase price up to the cap listed in #2 (not including labor or materials for installation).

 

4. When does the tax credit take effect and how long does it last?

The tax credit begins January 1, 2011 and expires December 31, 2011.  Purchasers of qualifying windows, skylights, and exterior doors must have them installed in their principal residence by December 31, 2011.

 

5. How does the tax credit compare to the previous credits?  Are consumers who took advantage of those credits eligible for the new tax credit?

The 2011 tax incentives revert to the 2005-2008 levels: 10% of the cost installing efficient windows.  Anyone who has taken advantage of the 2006-2010 programs cannot apply for incentives that exceed the cap  Example: if a consumer claimed $500 in 2006 for a qualifying exterior door, the tax credit is exhausted; if only $300 as claimed in 2009, $200 can still be claimed – for a total of $500.        

     

6. Where can I get more information on the tax credits?

 Visit http://www.energystar.gov/index.cfm?c=home.index.  The IRS will issue additional specific guidance soon.  Check http://www.irs.gov for updated information.

OFFERING REPLACEMENT WINDOWS IN VIRGINIA BEACH, CHESAPEAKE, NORFOLK AND THE TIDEWATER AREA FOR OVER 20 YEARS

 

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