If you've used Energy Star products to make some home improvements, you might qualify for a tax credit. According to
EnergyStar.gov, for the 2010 tax year, you can receive a tax credit worth 30 percent of the cost of certain products, up to $1,500, that were installed in an existing home you claim as your primary residence. That includes certain Energy Star-rated insulation, roofs, nonsolar water heaters, windows and doors, and biomass stoves installed by Dec. 31, 2010. The tax credit is still available for upgrades made this year, but at a different level. The government is also offering tax credits for qualifying geothermal heat pumps, small wind turbines, solar energy systems and fuel cells installed through 2016. Be sure to save all receipts and the manufacturer's certification statement for your records. You can claim the credit using IRS Form 5695 and include the credit on line 52 of the 1040 form.
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®