Energy Efficient Tax Credits
Dick Adams
last few years. Besides the $1500 per year cap, are
there any other constraints such as a multi-year cap?
Will this tax credit continue in 2010?
Dick
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Arthur Kamlet
Dick Adams <rda...@panix.com> wrote:
>There is an energy efficient tax credit of 30% for the
>last few years. Besides the $1500 per year cap, are
>there any other constraints such as a multi-year cap?
>Will this tax credit continue in 2010?
Yes, it's applicable to years 2009 and 2010 and the $1500 credit is
the total for the two years combined.
See Notice 2009-53
http://www.irs.gov/pub/irs-drop/n-09-53.pdf
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
W
news:he9677$j6g$1...@reader1.panix.com...
> In article <he90cb$d8j$2...@reader1.panix.com>,
> Dick Adams <rda...@panix.com> wrote:
> >There is an energy efficient tax credit of 30% for the
> >last few years. Besides the $1500 per year cap, are
> >there any other constraints such as a multi-year cap?
> >Will this tax credit continue in 2010?
>
>
>
> Yes, it's applicable to years 2009 and 2010 and the $1500 credit is
> the total for the two years combined.
>
>
> See Notice 2009-53
>
> http://www.irs.gov/pub/irs-drop/n-09-53.pdf
Can you get a $1500 credit more than once, for different types of
energy-efficient equipment? For example, if you do three projects:
- Energy efficient windows
- Energy efficient furnace
- Solar energy
Can you get $4500 of credits against the three different types of projects?
--
W
Arthur Kamlet
W <persis...@spamarrest.com> wrote:
>"Arthur Kamlet" <kam...@panix.com> wrote in message
>news:he9677$j6g$1...@reader1.panix.com...
>> In article <he90cb$d8j$2...@reader1.panix.com>,
>> Dick Adams <rda...@panix.com> wrote:
>> >There is an energy efficient tax credit of 30% for the
>> >last few years. Besides the $1500 per year cap, are
>> >there any other constraints such as a multi-year cap?
>> >Will this tax credit continue in 2010?
>>
>>
>>
>> Yes, it's applicable to years 2009 and 2010 and the $1500 credit is
>> the total for the two years combined.
>>
>>
>> See Notice 2009-53
>>
>> http://www.irs.gov/pub/irs-drop/n-09-53.pdf
>
>Can you get a $1500 credit more than once, for different types of
>energy-efficient equipment? For example, if you do three projects:
>
>- Energy efficient windows
>- Energy efficient furnace
no, these are combined for the credit.
>- Solar energy
This is a diferent type of credit with unlimited creit.
--
ArtKamlet at a o l dot c o m Columbus OH K2PZH
--
Elle
> "Arthur Kamlet" <kam...@panix.com> wrote in message
>
> Can you get a $1500 credit more than once, for different types of
> energy-efficient equipment? � For example, if you do three projects:
>
> - Energy efficient windows
> - Energy efficient furnace
A friend of mine is doing extensive re-modeling and so the two of us
have been researching how and whether he can take advantage of the tax
credit mentioned here. A few caveats on which I recently picked up and
which are covered in Notice 9-53 above and other sites:
It generally is cost effective to replace very old windows with double-
paned yada ones that meet the federal guidelines. Make sure the
manufacturer assures you with documents that the windows are eligible
for the tax credit. As far as the tax credit above is concerned, only
30% of the cost of the windows themselves (and not installation costs)
counts towards the $1500. My friend is putting these windows in at a
cost of around $2000. So right away he has used up (so to speak) $600
of the credit.
The furnaces that are eligible for the tax credit are super duper high
efficiency ("AFUER" greater than or equal to 95%) furnaces for which
one will pay quite a bit more compared to the lower efficiency, more
standard ones. If you can justify the higher expense of such a furnace
and you purchase one, then 30% of the cost of the furnace /and/ its
installation can count towards the tax credit. My friend opted not to
get one of the more expensive furnaces. Every contractor with whom we
spoke frowned on the higher efficiency furnaces, from a cost
standpoint, even with the tax credit.
Some furnaces have a high efficiency fan whose value the various IRS
guides will explain partly may be counted towards the tax credit. The
manufacturer should provide documents indicating which of its lower
efficiency furnaces have a high efficiency fan and what fraction of
the furnace cost and installation may then be multiplied by 30% and so
count towards the tax credit. We are talking maybe $100 of tax credit
here for this situation (fan only counts).
Dick Adams
Alan
> Were there not energy effieient tax credits from 2004 thru 2008?
>
> Dick
>
Nonbusiness Energy Property
[Bill �1333; Code �25C (new)]) effective for 2006 and 2007. It
was not extended, so 2008 did not contain it. It was brought back
to life for 2009 and 2010 with better terms.