This year, I can't get anything out of this because it isn't a
refundable tax credit - it just decreases what you owe.
For 2010, however, I'm wondering how I might best put this tax credit
to work. Obviously, it is designed to balance out a tax owed, so I'm
wondering if there is something (useful, fun, whatever) I could do in
order to "owe" taxes this year, and balance those owed taxes out using
the energy tax credit.
The only thing I can think of so far is perhaps transferring some of
my wife's retirement funds over to a Roth IRA. Doing so triggers an
immediate tax liability, since about 60% of her retirement funds are
still in a taxable account.
Anybody have any other ideas? Thanks!
Do you have anything that looks like a sales receipt? If I were the
IRS, I'd require that rather than anonymous stickers that could
have been pulled from someone else's windows.
> This year, I can't get anything out of this because it isn't a
> refundable tax credit - it just decreases what you owe.
>
> For 2010, however, I'm wondering how I might best put this tax credit
> to work. Obviously, it is designed to balance out a tax owed, so I'm
> wondering if there is something (useful, fun, whatever) I could do in
> order to "owe" taxes this year, and balance those owed taxes out using
> the energy tax credit.
>
> The only thing I can think of so far is perhaps transferring some of
> my wife's retirement funds over to a Roth IRA. Doing so triggers an
> immediate tax liability, since about 60% of her retirement funds are
> still in a taxable account.
>
> Anybody have any other ideas? Thanks!
So, did you buy these windows in 2010, or 2009?
2010. Yes, there is a receipt of sorts, but just says total cost.