Is that $1,500 lifetime ceiling for each item under the tax credits for energy efficient home improvements?
In other words, is it $1,500 each for the windows, solar panels and tankless water heaters, or is it $1,500 for all improvements combined. Answer: Glad you asked. There seems to be little knowledge of the tax credit deals Uncle Sam is offering owners who want their homes to perform better. For starters, gas-fired tankless water heaters do, indeed, qualify. And the maximum credit you can claim is, save for a few exceptions, $1,500 per improvement or 30% of the cost of each one, whichever is less. But let’s back up a bit for the uninitiated, who may have missed the fact that expanded tax credits for energy-wise home improvements were part of the same legislation that expanded the better-known tax credit for home buyers. The good news for those of us who are already owners is that while lawmakers saw fit to boost the buyer tax credit by a mere $500, they tripled the benefit available for the remodeling tax credit. Under the old remodeling credit for windows, doors, insulation, non-solar w
