If you’re planning on replacing old appliances in your PRINCIPAL residence, take note: the tax credit expires on December 31, 2010. All products must be installed by that day in order to qualify.
What is the tax credit? A maximum of $1,500 over the 2-year period (2009 & 2010) (or 30% of your purchase up to $5,000).
What qualifies? Not all Energy Star Appliances will qualify, so check the list of approved products.
Who qualifies? Home owners living in their principal residence. Renters don’t qualify, nor do upgrades on new construction or rental properties.
How do I apply? Save ALL of your receipts, because you’ll need them to submit with your 2010 Taxes. You’ll use IRS Form 5695, or have your accountant do it.
To read more information on existing tax credits, visit the Energy Star FAQ website.
Nice, I have a couple of things that already bear the Energy Star compliance, will keep it in mind when we go appliance shopping next week.