2010 Energy Tax Credit: You Can Still Take Advantage

The good news: you can still take advantage of the 2010 Energy Tax Credit.

The bad news: you have to be an individual to take advantage of the 2010 Energy Tax Credit.

Purchases that may be eligible for the credit include windows, doors, heating and cooling systems, insulation, lighting, and other miscellaneous items.

Associations cannot claim the tax credit even though the property is residential. Unfortunately, if your Association has to replace 100 windows on common areas, it cannot claim the tax credit. However, if the owners individually are paying for the replacement as areas that owner responsibility, the individuals can claim the credit.

The tax credit is 30% of the purchase price of the qualified products with a maximum of $1,500.00 per household. You also must be the occupant of the residence. Hurry to take advantage of this credit, however, because all work must be completed before December 31, 2010. Consult your tax professional regarding your eligibility and the eligibility of the products you buy.

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