Under the Inflation Reduction Act, residential homeowners who install window film on their homes may qualify for a tax credit. Designed to be an incentive to encourage homeowners to invest in energy-saving products like UV protective and infrared deflecting window film to help reduce their carbon footprint in efforts for a more sustainable future.
What’s New For The Window Film Tax Credit in 2023?
Starting in 2023, a new $1,200 annual tax credit limit is set to replace the existing $500 lifetime limit. The tax credit will be equal to 30% of the costs for all eligible home improvements made during the year. As an article in Kiplinger notes, “if you spread out your qualifying home projects, you can claim the maximum credit each year. The annual limits for specific types of qualifying improvements will also be modified – and for the better.”
For more information visit the IRS website at : https://www.irs.gov/forms-pubs/about-form-5695
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