Friday, March 12, 2010

Is there a limit of how much you can claim regarding the energy star/efficiency tax credit?

You may be able to take a credit equal to the sum of:


1. 10% of the amount paid or incurred for qualified energy efficiency improvements installed during 2007, and


2. Any residential energy property costs paid or incurred in 2007.





However, this credit is limited as follows.


- A total combined credit limit of $500 for all tax years after 2005.


- A combined credit limit of $200 for windows for all tax years after 2005.


- A credit limit for residential energy property costs for all tax years after 2005 of $50 for any advanced main air circulating fan; $150 for any qualified natural gas, propane, or oil furnace or hot water boiler; and $300 for any item of energy efficient building property.

Is there a limit of how much you can claim regarding the energy star/efficiency tax credit?
$500 combined for 2006 and 2007.
Reply:I believe its 500.00 for storm doors,insulation etc


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