Home Inprovement Tax Credit Exstended Till Dec 31 2010

[saveohlot]

This is great news to know that will be exstended till dec 31 .

So if you have been putting off doing home inprovements till next year.

Baybe now is the better time. I have inclosed the quote below so u can

can see just what applys as a tax credit for the end of 2010.

This dose not apply to new homes being built. And its not a refund its a

tax break on ur taxed this year

<H2>2010 Extended Energy Tax Credits – Through 12/31/2010

For all qualified upgrades, the credit is 30% of the covered cost up to a $1500 total credit. For instance, if you pay $3000 for insulation (excluding installation costs), your credit would be $900. The house must be your principal residence and the credits don’t apply to new construction. Other, upgrade-specific restrictions apply, so see the site for details.

• Energy Efficient Windows and Doors, including many Storm Doors and Skylights. Cost eligible for the tax credit does not include installation costs (which is OK if you’re installing windows yourself). Certain other restrictions (like U-value and IECC qualifications apply).
• Water Heaters. Credit includes installation costs (or you could save more by installing the water heater yourself, if its electric); some restrictions for energy efficiency apply.
• Metal and Asphalt Roofs. Credit does NOT include installation costs. The roof must be highly energy efficient (asphalt roofs must have cooling granules, for instance).
• Insulation, whether spray foam, fiberglass, or blow-in cellulose, they’re all covered so long as they meet IECC requirements. Installation cost is NOT covered.
• HVAC Components, including certain Advanced Air Handlers, Air Force Heat Pumps, Central A/C Units, Boilers, Propane, and Gas Furnaces. Tax credits include installation costs.
• Biomass Stoves.

</H2>

[moneysense]

Thank you for the post. We all need to be able to take advantage of these tax credits before they expire and your post just may allow someone that didnt know about the expiration date time to make a couple of additions to their homes that they can get the tax credit for.

We are doing a new garage door this year, but it wont be installed in time and anyway I dont think its something thats on the list of things to get a tax credit for.

The door is in the basement waiting to be installed but the weather has been way to cold to do it now.

[ernst88]

My roommate just bought some new windows for our condo. Since she waited so late, even though she purchased the windows before the deadline, the installers cannot actually put them on until now. I was wondering if this would cause Tax Problems if I have them installed later, but still file for the credit.

[dimetime]

ernst88 according to the post made by saveohlot. The tax credit does not include installation costs on the windows.

Energy Efficient Windows and Doors, including many Storm Doors and Skylights. Cost eligible for the tax credit does not include installation costs (which is OK if you’re installing windows yourself). Certain other restrictions (like U-value and IECC qualifications apply).

So you might be able to get credit for the windows, which is still helpful. Just to be sure ask a tax professional and see what they say about it. They know more about this kind of stuff than I do and they may be able to give you even more information which can help you save even more when it comes to taxes.

[ernst88]

Originally Posted by dimetime

ernst88 according to the post made by saveohlot. The tax credit does not include installation costs on the windows.



So you might be able to get credit for the windows, which is still helpful. Just to be sure ask a tax professional and see what they say about it. They know more about this kind of stuff than I do and they may be able to give you even more information which can help you save even more when it comes to taxes.

Thanks Dimetime for the tax resolution idea! I am definitely going to ask a professional about my situation. Tax law seems to be getting more confusing every year. I got the most energy efficient windows as possible to lower my heating bill as well.