Tax credit for window replacement in 2023

Energy Efficient Windows

Replacement windows tax deduction

In a move that will help homeowners and the environment, the federal government has announced it will extend its tax credit for window replacement to 2032.

TRAVERSE CITY, MI, US, June 15, 2023/EINPresswire.com/ -- In a move that will benefit homeowners and the environment, the federal government has announced that it will extend its tax credit for window replacement to 2032.

The tax credit, which was first introduced in 2018, provides homeowners with a 30% credit on the cost of new windows up to $600. The extension of this tax credit means that homeowners can continue to save money while making their homes more energy efficient.

By replacing old or drafty windows with new energy-efficient models, homeowners can reduce their monthly energy bills and lower their carbon footprint at the same time.

Homeowners Can Reap Tax Savings with Replacement Windows in 2023

Homeowners looking to improve their homes can do so while also enjoying tax savings in 2023. Replacing the windows of a home is one of the many improvements that may be eligible for deductions on federal taxes.

By taking advantage of this deduction, homeowners can save money while improving the look and energy efficiency of their homes.

The deduction is part of the Nonbusiness Energy Property Credit, which allows taxpayers to claim up to 30% of eligible costs for energy-efficient improvements such as insulation, storm windows, skylights, and qualifying replacement windows.

It’s important for homeowners to note that the credit only applies to certain types of energy-efficient windows made from specific materials; aluminum or vinyl-clad frames and double-pane glass are generally accepted.

In addition to being eligible for a windows tax credit, replacing old windows can also provide other benefits.

Frank Ellis
Harbor Financial
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