Tax credits are now available for home improvements:
They must be "placed in service" from January 1, 2009 through December 31, 2010. Must be for taxpayer's principal residence. $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and windmills which are not subject to this cap, and are in effect through 2016. Must have a Manufacturer Certification Statement to qualify. Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010), use IRS Tax Form 5695 (2009 version), it will be available late 2009 or early 2010.
If you are building a new home, you can qualify for the tax credit for geothermal heat pumps, photovoltaics, solar water heaters, small wind systems and fuel cells, but not the tax credits for windows, doors, insulation, roofs, HVAC, or non-solar water heaters. Advantage Development Co. in Asheville, NC is a certified green builder and Energy Star partner. Call us today at 828.215.9064 or visit us at http://www.advdevco.com/ and see why we are the better builder. Need "Green" Certification on that new home? We are a LEED Certified Green Builder.