- Tax credits are available at 30% of the cost or up to $1,500.
- You will still submit Form 5695 to claim all the energy investment specifics. Then transfer that figure to your 2009 1040 form on line 52.
- What products or improvements are eligible? Pretty much any substantial improvement that would help make your home more energy efficient will likely qualify. Improvements like adding insulation, installing more efficient heat pump, updating a water heater, installing windows and doors or even going the renewable route with geothermal heat pumps and solar water heaters qualify.
- Or perhaps you invested in an energy efficient gas sipper in 2009 and went the hybrid route. If so, check out tax incentives for vehicles as well.
- If you are a business owner, the government has options for you as well.
- The IRS has more information and tips as well. You can also consult your local tax accountant.
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