California homeowners can claim tax credits for home maintenance in 2023

In 2023, California homeowners may be able to deduct the following:

-Mortgage interest

-Property taxes

-Home mortgage points

-Home energy improvements

-Mortgage insurance premiums

-Qualified disaster-related personal casualty losses

-Charitable contributions

-State and local income (or sales) taxes

-Investment interest expenses

-Medical and dental expenses

-Investment expenses

-Moving expenses

-Qualified tuition and related expenses

In general, the California tax credits are available for any energy-efficient improvements or upgrades that are made to a primary home. Examples of improvements include solar energy systems, energy-efficient insulation, and energy-efficient windows or doors. The amount of credit available depends on the cost of the energy-efficient improvements and the type of improvement made. Homeowners can claim a credit of up to 25% of the cost of the improvements up to a maximum of $1,500. Additional credits may be available for certain improvements, such as solar energy systems.

To claim the credit, homeowners must complete and submit the California Tax Credit Allocation Committee Form 5695 with their tax return. Homeowners must also provide proof of purchase for the energy-efficient improvement, such as a receipt or invoice.

Please note that the tax credits for home maintenance in 2023 may change depending on the tax laws in California. Please consult a tax professional for more information.