Did you make energy efficient improvements to your home in 2012?
If you made energy efficient improvements to your home in 2012 you may qualify for a federal tax credit on your taxes. In my earlier post from Jan 11, 2012 I posted a list of qualified hvac systems. You can qualify for 10% of the cost up to $500 for air conditioners, heat pumps, furnaces and water heaters. If you missed that post or would like to go back and review it, click on the button below. [small_button text=”Click Here…” title=”earlier federal tax credit post” url=”http://www.https://mcdowellandson.com/federal-tax-credits-are-back-and-retroactive-to-2012/” align=”left” target=”_blank” style=”light”] In addition to the to the HVAC tax credit you can also receive 10% of the cost up to $500 if you made energy efficient improvements to the envelop of your home such as windows, insulation, air sealing and duct sealing.
In order to claim your tax credit you must fill out the IRS form 5695 and turn it in with your form 1040 or 1040NR. The 2012 version has been released and I have provided the link for you to download the form: Federal Tax Credit Form 5695. Also if you would like to learn more about all the energy tax credits available you can go to the site Tax Incentives Assistance Project or Energy Star to learn more. If you do go to Energy Star they have yet to post the tax credits for 2012 but should have them up in the next week.