How to Claim the Stimulus Bill Tax Credits for Energy Efficiency

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By Runkin
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Energy Star products qualify as energy efficiency tax credits.

The stimulus bill signed by President Obama extends the federal tax credits for energy efficiency for at least another two years. Officially called, The American Recovery and Reinvestment Act of 2009, the stimulus bill has also increased the amount of money that you can claim as tax credits when home improvements are made to increase energy efficiency.

Difficulty: Moderate

Instructions

Things You'll Need:

Energy Star labels from new energy efficiency products
Manufacturer Certification Statements from new products
receipts to prove home improvements

Step 1

To claim tax credits for home improvements that increase the energy efficiency of your home, the improvements must be made from January 1, 2009 through December 31, 2010.
Step 2

The stimulus bill includes tax credits for energy efficiency that are available for home improvements that are made on your primary residence.
Step 3

When you make your home improvements to increase the energy efficiency of your home, you should save all your receipts. You can claim up to $1,500 in tax credits for home improvements in 2009 and 2010.
Step 4

In addition to your receipts, you must also save Manufacturer Certification Statements from the energy efficient products you purchase. If you install new windows to increase energy efficiency, you should save the Energy Star label from the new windows. It is always best to save more paperwork than you think you need in order to properly document your energy efficiency home improvements. You must have the proper documentation to claim the energy efficiency tax credits in the stimulus bill.
Step 5

Energy efficiency home improvements made during 2009 should be claimed on your 2009 taxes, which need to be filed by April 15, 2010. For more information on how to claim the stimulus bill tax credits for energy efficiency, you should speak to a qualified professional or your tax preparation agency.