Question

Can I take the Residential Retrofit Credit in South Carolina?

Forum|Forum|1 year ago
January 10, 2025
1 reply
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Paid $4720 for hurrican shutters. The Residential Retrofit Credit for SC states that Individual Income Tax credit for expenses paid to retrofit the taxpayer's legal residence to make it more resistant to hurricane, floodwater, or other catastrophic windstorm damage as defined by the Director of Insurance or his designee. The allowable credit is the lesser of 25% of the amount paid or $1,000. Form SC SCH.TC-43

Yes, hurricane shutters would qualify for the Residential Retrofit Credit in SC.

These would fall under Opening Protection.

- Installation of appropriately rated protection to all exterior openings including windows, doors, and garage doors, including the installation of impact-rated windows, doors, and garage doors.

This is however, a non-refundable credit meaning, it can reduce your tax liability, but it will not reduce your liability below $0 or give you a refund if you did not pay any takes in or have any tax liability to start with.

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