The article Energy Star® Tax Credits for Appliances introduced the federal energy efficiency tax credits of up to $1,500 for $5,000 spent on qualifying household upgrades.
In this article, learn which form to use to claim tax credits for energy efficient appliances and other home upgrades, where to look on the IRS website for the 2010 form, and how to look up the correct IRS mailing address to use.
Claim $1,500 Tax Credit for Energy Efficient Appliances, Upgrades
Taxpayers should use IRS Form 5695 to claim residential energy credits. The form should be filed along with an individual tax return, typically Form 1040. It should not be mailed separately to the IRS.
The residential energy tax credit should be reported on Form 1040, page 2 (in the Tax and Credits section). In 2009, that was Form 1040, Line 52. The 2010 tax forms are not yet available, but the credit should be entered in the same approximate location on the 2010 individual tax return.
Energy Star® Tax Credit Form – Find IRS Form 5695 on irs.gov
Here is a link to the 2009 Form 5695 (the instructions are included in the PDF file). When the 2010 version is available, the IRS will post it on irs.gov. Forms are usually available near the end of the tax year, so the 2010 version of Form 5695 should be available around November or December 2010.
The IRS usually doesn’t wait until tax season to post forms, but when it does, the delay is usually accompanied by an announcement. If the 2010 Form 5695 form isn’t available by the end of December 2010, taxpayers should check irs.gov for information updates.
How to Locate 2010 Form 5695 & Instructions on irs.gov
To locate the 2010 version of Form 5695 later this year, search for it in the Forms and Instructions section of irs.gov.
Taxpayers should use the version of Form 5695 that corresponds to the tax return year the credit is being taken. The residential energy credit should be claimed on the annual tax return for the year the qualifying product(s) were placed in service (not when the product was purchased). For instance, a qualifying product purchased on December 15, 2009, but installed on January 10, 2010, would be deemed placed in service in 2010.
IRS Mailing Address – Where to Mail Form 5695, Residential Energy Credit
As Form 5695 must be attached to an individual tax return, there is no separate tax credit mailing address. The article Where to Mail Federal Tax Returns explains how to look up the correct IRS mailing address for Form 1040 or another personal tax return form for any given year.
In addition to $1,500 federal tax credits, some United States consumers are also eligible for state appliance rebates. For more information on state incentives for energy efficient appliance purchases, see the following articles:
Energy Star® Rebates for Appliances by State
United States Government Appliance Rebates
U.S. Energy Star® Home Appliance Rebate Program
Resources:
Internal Revenue Service website, irs.gov
Official United States federal government Energy Star® website, energystar.gov
Lena Gott - Lena Gott is a Certified Public Accountant who gives practical financial advice to her readers.
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