2009-2010 Energy Tax Credit Quick Facts
On February 17th, President Obama signed the $789 billion economic stimulus bill that includes tax credit incentives for homeowners who make energy-efficient home improvements. The bill extends eligibility for tax credits through 2010 on energy-efficient improvements—including qualifying windows and doors!
The bill includes the ability for homeowners to receive a tax credit of 30 percent of the cost of qualifying energy-efficient products up to a maximum of $1,500 per household for all improvements made in 2009 and 2010.
The requirements to qualify for the new energy tax credit include:
- Windows purchased must be equal to or below a U-Factor of 0.30 and a Solar Heat Gain Coefficient (SHGC) of 0.30.
- The purchase of the qualified windows must be made during the taxable year for which the credit is being claimed.
- The credit is only allowed on the price of the qualified windows themselves, not on installation costs, onsite preparation, assembly or sales tax.
- The tax credit is allowable only for qualified window units placed in service in 2009 and 2010.
- Homeowners must save their receipts for their windows purchased along with all window labels and stickers for verification and tax recordkeeping.
- The windows must be installed in the taxpayer's principal residence.
- This tax credit is capped at a total of $1,500 for the years of 2009 and 2010.
- Unlike a tax deduction, which only reduces the amount of your taxable income, a tax credit reduces the amount of tax you owe.
Manufacturer's Certification Statement and Qualifying Products
For Simonton windows and doors to qualify for the current energy tax credit, they must meet a high level of energy efficiency. Simonton offers a variety of energy-efficient glass packages that meet these qualifications. The following lists include Simonton's Manufacturer's Certification Statement and the windows and doors that are eligible for the 2009-2010 tax credit:
Qualifying Products with Grids and Manufaturer's Certification Statement
Qualifying Products without Grids and Manufaturer's Certification Statement
IRS guidance indicates that taxpayers are not required to attach the Manufacturer's Certification Statement to their tax returns. Taxpayers should retain this certification as part of their tax records.