How to Get a $1500 Tax Credit
Federal tax credits (up to $1500) are available for home owners who are purchasing certain energy-star products for their principal residence. Here is how to know what products/ services qualify and how to apply for the tax credit.
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Instructions
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Explore the Energy Star website at energystar.gov.
This site is updated regularly. Currently, there are tax credits available on certain purchases through 2010 and others through 2016. Apparently, tax rebates will be available as well, but the information is not yet available.
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Click on the "Frequently Asked Questions" to find out specifics.
-Learn what products qualify. Some products that are eligible for the 2009/10 tax credit include certain types of water heaters, biomass stoves, and insulation.
-Be sure to understand how a tax credit works. In short, you receive 30% of the cost of qualifying products up to $1500. For a complete explanation, you should visit the site.
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File the correct IRS tax form and include it with the rest of your taxes.
If you have installed ("placed in service") qualifying products in 2009, you will need to fill out IRS form 5695. Since this form is not yet available, you can be notified by email when it is. Please visit the link under Additional Resources.
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