1. Don Priebe - January 2013Syracuse First Time Preparer Training1 Residential Energy Credits No major changes for TY 2012

2. No Major Changes for 2012 Credit on individual item is 10% (was 30% in 2010) Total lifetime credit is $500 (was $1,500 for 2009 and 2010) Energy criteria for items are more strict Don Priebe - January 2013Syracuse First Time Preparer Training2

3. Energy property credit improvements must be to your existing main home Don Priebe - January 2013Syracuse First Time Preparer Training3

4. Total lifetime credit limited to $500 Don Priebe - January 2013Syracuse First Time Preparer Training4 Old form – sorry

5. Nonbusiness Energy Property Form 5695 Part I Insulation, exterior doors, low heat gain roofing, exterior windows and skylights limited to cost of materials only Heat pumps, boilers, hot water heaters, etc. include installation cost Don Priebe - January 2013Syracuse First Time Preparer Training5

6. Limitations on credit for specific items See instructions for Form 5695 Windows $200 max credit for all years Advanced main air circulating fan $50 Natural gas, propane, or oil furnace, or hot water boiler $150 Other energy-efficient building property $300 Don Priebe - January 2013Syracuse First Time Preparer Training6

7. The instructions are useful! Line 3a. Enter the amounts you paid for any insulation material or system (including any vapor retarder or seal to limit infiltration) that is specifically and primarily designed to reduce the heat loss or gain f your home when installed in or on such home and meets the prescriptive criteria established by the IECC. ! CAUTION A component is not specifically and primarily designed to reduce the heat loss or gain of your home if it provides structural support or a finished surface (such as drywall or siding) or its principal purpose is to serve any function unrelated to the reduction of heat loss or gain. Don Priebe - January 2013Syracuse First Time Preparer Training7

8. Residential Energy Efficient Property Credit Form 5695 Part II Solar, wind, geothermal (any home) Fuel cell (main home only) Credit depends on cost and capacity Credit can be carried forward until needed OUT OF SCOPE Don Priebe - January 2013Syracuse First Time Preparer Training8