Now that the winter (and tax season) is over, taxpayers' thoughts may be turning to home improvements. Here is some information on two credits available to taxpayers for 2010 with one of them expiring after December 31, 2010.

1. Nonbusiness Energy Property Credit
• Nonrefundable credit equal to 30% of the cost of qualifying property used to improve heating and cooling efficiency of your main home
• Includes windows, doors, insulation, roofs, furnaces, hot water boilers, heating stoves, central air-conditioning systems, and more
• Maximum credit is $1,500 for 2009 and 2010 combined (not reduced by any 2006-2007 credit you may have claimed in those years)
• Not available after December 31, 2010
2. Residential Energy Efficient Property Credit (a/k/a the "REEP")
• Nonrefundable credit equal to 30% of the cost of larger energy efficient improvements that provide electricity or hot water to the home (solar, wind, fuel cell, geothermal heat pump, etc.)
• Unlike the Nonbusiness Energy Property Credit requirement, REEP improvements do not have to be installed in your main home
• Solar hot tubs do NOT qualify
• No credit maximum, but fuel cell equipment is limited to $500 per 0.5/kW of capacity
• Unused credit may be carried forward to the next year
• Available through December 31, 2016

Both credits are claimed on IRS Form 5695, Residential Energy Credits. The property or improvement must be installed in your home by the end of the year in order to receive a tax credit for that year.

For a complete list of qualifying property for both credits, as well as the energy specifications for each type of property, go to: www.energystar.gov and click on "Tax Credits for Energy Efficiency" on the lower left side of the page.