The IRS Announced a New Tax Policy for Energy Efficient Home Improvement Credit
Until December 31, 2022, the energy efficient home improvement credit is only $500 lifetime credit. Starting from January 1, 2023, the deduction will be 30% of the taxpayer's total qualified expenses, including qualified energy efficiency improvements installed, residential energy property expenditures, and home energy audits costs during the year.
Common examples of qualified energy efficient home improvement include:
- Exterior doors, windows, skylights, insulation, or insulation and air sealing systems and their qualified materials
- central air conditioners, natural gas systems or oil water heaters
The total deduction of the 30% qualified expenses is up to $1,200.
USCPA Sophie Luo (羅霞) reminds you that the energy policy issued by the IRS is only available for the Energy Efficient Home Improvement in the United States.
If you have any questions or need any further help,
please contact us at the USCPA Sophie Luo (羅霞) +886 980919600
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