Another Chance to Write Off Energy-Efficient Home Improvements

Congress revived the $500 tax credit for both 2012 and 2013.

Did the fiscal cliff law extend the tax credits for energy-efficient home improvements for 2013?

Yes it did. The law, which Congress passed on New Year’s Day, revived the tax credit for both 2012 and 2013. If you made any eligible improvements in 2012 -- after the credit expired -- dig up the receipts before you file your taxes for the year because you may get a tax break after all. And keep these rules in mind when planning home improvements for 2013:

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.