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Stephen G.
Stephen G., Sr Income Tax Expert
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Can I get a home energy credit this year for a qualifying hot

Resolved Question:

Can I get a home energy credit this year for a qualifying hot water heater that I bought in 2010 or do I need to wait until next year?
Submitted: 6 years ago.
Category: Tax
Expert:  Stephen G. replied 6 years ago.

Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.

 

If you mean "this year" is 2009, then no. If you bought & installed the water heater in 2010, then the 30% energy credit will be available in 2010.

Customer: replied 6 years ago.
Will it definitely be available in 2010?? Is there a chance it will change before next April?
Expert:  Stephen G. replied 6 years ago.

 

Very very unlikely. The law as it exists is written for 2009 & 2010. Even if there was a change, the chances of it being retroactive to the beginning of 2010 are just about nil, or less than nil. It is more likely that it would be extended.

 

See the link which follows for additional assurance:

 

http://www.biblemoneymatters.com/2009/12/2010-home-improvement-tax-credits-for-energy-efficient-products-insulation-windows-heaters-etc.html

 

Not the link I intended but it actually has better data. Info also at www.IRS.gov

 



Edited by Stephen E. Grizey, CPA on 4/1/2010 at 2:45 AM EST
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