2011 Tax Credit on Austin Window Replacement and Roofing
Facts about the 2011 Federal Tax Credit for Window Replacement, Doors and Skylights.
Summarized by the Window & Door Manufacturers Association.
In the “Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act” (H.R. 4853) signed into law on December 17, 2010, Congress reduced the federal tax credit for energy-efficient windows, doors and skylights for 2011 and changed the qualifying criteria. Below is a summary of the new credit.
Qualifying Products: All ENERGY STAR® qualified windows, skylights and exterior doors are eligible. Products must be installed in a consumer’s existing primary residence; new construction is not eligible.
Credit Amount: Consumers can claim a credit of 10% up to $200 of the purchase price of qualifying windows and skylights and 10% up to $500 for qualifying exterior doors. Installation costs are not included.
Lifetime Cap: There is now a lifetime limit of $500 ($200 for windows/skylights) in total credits that a homeowner can claim from Jan 1, 2006 to Dec. 31, 2011. It is not on top of the $1,500 limit in 2009-2010. So if they have already reached or exceeded the $500 limit, they are no longer eligible to claim the credit in 2011. The $500 aggregate lifetime limit is for any combination of all tax credit qualifying products (HVAC, insulation, roofing, etc), not just windows, doors and skylights. If they have claimed less than $500, they can claim the difference up to the $200 cap for windows and skylights and $500 for exterior doors.
Duration: The revised tax credit is in effect for products installed in a consumer’s primary residence between January 1 and December 31, 2011.
The government is expected to post additional information at http://www.energystar.gov. The IRS is expected to post official guidance at http://www.irs.gov in early 2011. Circumstances vary widely, so consumers should consult with their tax adviser for further guidance.
How do I Qualify for the Tax Credit?
Tax Credit: 10% of cost up to $500 or a specific amount from $50 - $300
Expires: December 31, 2011
Details: Must be an existing home & your principal residence. New construction and rentals do not qualify.
Energy Efficient Roofing Products are Also Eligible
Qualified roof products reflect more of the sun’s rays, which can lower roof surface temperature by up to 100 degrees, decreasing the amount of heat transferred into your home.
RoofCrafters installs the following GAF EnergyStar Rated Products:
* Timberline® Cool Series… available in Cool Antique Slate, Cool Barkwood, Cool Weathered Wood, and Cool White
* Timberline® HD™ and Timberline® Ultra HD™… in White only
* Royal Sovereign®… in White only
RoofCrafters uses Quality Metal Coils from Drexel Metal when manufacturing metal roofing panels. All Drexel Metals basic colors meet EnergyStar ratings.
Tax Credit: 10% of the cost, up to $500
Requirements: “Metal roofs with appropriate pigmented coatings” and “asphalt roofs with appropriate cooling granules” that also meet ENERGY STAR requirements.
Details: Tax Credit does NOT include installation costs.
Windows and Doors
Tax Credit: 30% of cost with no upper limit
Expires: December 31, 2016
Details: Existing homes & new construction qualify. Both principal residences and second homes qualify. Rentals do not qualify.
Insulation
Adding adequate insulation is one of the most cost-effective home improvements that you can do.
Tax Credit: 10% of the cost, up to $500
Requirements: Typical bulk insulation products can qualify, such as batts, rolls, blow-in fibers, rigid boards, expanding spray, and pour-in-place.
Products that air seal (reduce air leaks) can also qualify, as long as they come with a Manufacturers Certification Statement, including:
* Weather stripping
* Spray foam in a can, designed to air seal
* Caulk designed to air seal
* House wrap
Tax Credit does NOT include installation costs. But, you can install the insulation/home sealing yourself and get the credit.
