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"You can get a one-time tax credit up to $500
in total for installing efficient new windows, insulation, doors,
roofs, and heating and cooling equipment in your home."
"What energy-efficient home improvements are eligible?
The overall $500 cap can be reached in several ways with the purchase
and installation of energy-efficient products:
- Exterior windows (including skylights) 10 percent of
the total cost, up to $200.
- Insulation, exterior doors, or pigmented metal roofs:
10 percent of the total cost, up to $500. Duct sealing and weather
stripping or foam sealants may also qualify for the credit, depending
on the IRS rules.
- Central air conditioner, heat pump, or water heater:
up to $300 towards the full purchase price.
- Furnace or boiler: Up to $150 towards the full purchase
price, and/or $50 for a furnace with an efficient air circulating
fan."
"In addition, to be eligible for the federal tax credits:
- Windows, doors, and insulation must meet the requirements
of the International Energy Conservation Code, a model energy
code for buildings. ENERGY STAR windows will almost always qualify.
- Metal roofs must have pigmented coatings that meet ENERGY
STAR requirements.
- Heating and cooling equipment must meet stringent efficiency
requirements -- not even all ENERGY STAR products will qualify."
"All the improvements must be installed in or on the taxpayer's principal
residence in the United States."
"When are they available?
The home improvement tax credits apply for improvements "placed
in service" from January 1, 2006, through December 31, 2007. They
are not available in 2005. The IRS defines "placed in service" as
when the products or materials are ready and available for use --
this would generally refer to the installation, not the purchase."
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