Were the nonbusiness energy efficiency improvements property credits that expired January 1, 2008 part of the bill that just passed? (windows, doors, insulation, furnace, etc.)
Thank you, George L. Anthony snipped-for-privacy@atlanticbb.net
Energy Credits
Oct 06, 2008
4 Replies
Yes. HR 1424, Division B, Title I, Section 106.
I am quoting from
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"Congress also reinstated the Code Sec. 25C residential
energy property credit for property placed in service in 2009.
Eligible improvements include insulation materials,
exterior windows, including skylights and exterior doors."
I assume this means that these credits are not available for tax year
2008?????
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Whoops.. it was Section 302 of the bill that extended the credits you are referencing.
SEC. 302. CREDIT FOR NONBUSINESS ENERGY PROPERTY. (a) EXTENSION OF CREDIT.?Section 25C(g) is amended by striking ??placed in service after December 31,2007?? and inserting ??placed in service? ??(1) after December 31, 2007, and before January 1, 2009, or ??(2) after December 31, 2009.??.
From
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"On October 3, 2008, President Bush signed into law the ?Emergency Economic Stabilization Act of 2008.? This bill extended tax credits for energy efficient home improvements (windows, doors, roofs, insulation, HVAC, and non-solar water heaters). Tax credits for these residential products, which had expired at the end of 2007, will now be available for improvements made during 2009. However, improvements made during
2008 are not eligible for a tax credit."Join the Discussion
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