Put Energy-Efficient Upgrades in Use by Dec. 31
The tax credit in question applies to improvements “placed in service” through Dec. 31, 2011. The IRS defines “placed in service” as the point when the products or materials are fully installed and are ready for use – not the time of purchase.So, it’s not enough just to put the order in for a new door or window by Dec. 31 – you’ve got to install it, too. The tax credit applies to how much you paid for the improvement, excluding labor for building components like windows, doors and insulation – but including labor for HVAC components like air conditioners, heat pumps and water heaters. Learn more about the how the tax credits work.
What Does The Credit Apply To?
Five basic energy efficiency upgrades are among the six items that are eligible for the tax credit:- Insulation
- Windows, doors and skylights
- Non-solar water heaters
- Metal and asphalt roofs
- HVAC systems
- Biomass stoves
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