Limits
A tax credit of up to $1,500 is available to individuals for nonbusiness energy property, such as residential exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners, and water heaters.
a. The credit is 30% of qualified costs. b. There is a lifetime credit of $1,500. c. The improvements must be installed in the taxpayer's principal residence in the United States.
Read more about this topic: Nonbusiness Energy Property Tax Credit
Famous quotes containing the word limits:
“Now rest in peace, our patriot band;
Though far from nature’s limits thrown,
We trust they find a happier land,
A brighter sunshine of their own.”
—Philip Freneau (1752–1832)
“Predatory capitalism created a complex industrial system and an advanced technology; it permitted a considerable extension of democratic practice and fostered certain liberal values, but within limits that are now being pressed and must be overcome. It is not a fit system for the mid- twentieth century.”
—Noam Chomsky (b. 1928)
““... Ain’t it a caution to us not to fix
No limits to what rose in rubbing sticks
On fire to scare away the pterodix
When man first lived in caves along the creeks?”
“Marvelous world in nineteen-twenty-six.””
—Robert Frost (1874–1963)