820 Greenbrier Circle, Suite 6
Chesapeake, Va 23320
- 2646
Office: 757-655-6447 | FAX: 757-523-6530
kim@centralplumbing.hrcoxmail.com

You Have 1 Item in your Cart. Price is $199

Energy-Efficient Upgrades for Your 2016 Taxes – Chesapeake, VA

1 March 2017       Bookmark and Share

You may have heard that you can deduct energy-efficient appliances, but things like refrigerators and stoves don’t qualify. Instead, this tax credit is aimed at major systems upgrades in existing homes in Chesapeake, VA. To get this credit, you need to have purchased one of the following for a main residence that you lived in in 2016. Also, there is a lifetime total of $500 for this tax deduction, so if you’ve already hit this limit, you’re done. If not, round up those receipts!

  • $300 for a qualifying biomass stove
  • $300 for qualifying air-source heat pumps
  • $300 for qualifying central AC systems
  • $150 for efficient hot water boilers
  • $200 for qualifying furnaces and fans
  • 10% of the cost of home insulation upgrades, excluding labor
  • $300 on qualifying water heaters
  • 10% of the cost of windows and skylights (up to $200)
  • 10% of the cost of doors
  • 10% of the cost of an energy-efficient roof, excluding labor

This tax credit expired at the end of 2016. Congress usually re-ups this credit sometime during the year, but if you’ve already spent the money on this project, make sure you get back what you can! For the real nitty-gritty and filing instructions, you’ll want to read IRS Form 5695.
For information on energy saving HVAC systems in Chesapeake, VA contact Central Plumbing and Heating.

Realtor.com


< Go Back to Main Blog