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Sunday, June 23, 2013

Missouri - Home Energy Audits

Home Energy Audits - Missouri Personal Income Tax Deduction for Home Energy Audits

A Home Energy Audit must be performed before implementation of energy efficiency upgrades do be eligible for the tax deduction.
Senate Bill 1181, passed by the General Assembly and signed into law in 2008, includes a Missouri personal income tax deduction for qualified home energy audits and the recommendations of those audits, beginning with the 2009 tax year.
Any taxpayer who paid an individual certified by the Department of Natural Resources to complete a home energy audit may deduct 100 percent of the costs incurred for the audit and the implementation of any energy efficiency recommendations made by the auditor. The maximum yearly subtraction may not exceed $1,000, for a single taxpayer or a married couple filing a combined return. For all years in which you incur expenses, the maximum total subtraction you may claim is $2,000.To qualify for the deduction, you must have incurred expenses in the year you are filing a claim, and the expenses incurred must not have been excluded from your federal adjusted gross income or reimbursed through any other state or federal program.
Please use the directories below to locate an auditor in your area.



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