The American Taxpayer Relief Act of 2013 reinstated the energy efficiency tax credits for windows and doors, which had previously expired at the end of 2011. The 2013 tax credits include:
- A consumer tax credit up to $200 for 10% of the cost of qualified replacement windows (does not include installation costs).
- A consumer tax credit up to $500 for 10% of the cost of qualified doors (does not include installation costs).
- Applies to energy star qualified windows and doors installed between 1/1/13 and 12/31/13.
As in past years this is a tax credit - not a deduction - which means the credit can be applied directly to the balance due the IRS on a homeowners' tax return or increase the refund!
If you have any questions about the tax credit or eligibility for the upcoming year, please contact your tax consultant.