Discussion:Energy Tax Credit - Timing
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Discussion Forum Index --> Advanced Tax Questions --> Energy Tax Credit - Timing
Discussion Forum Index --> Tax Questions --> Energy Tax Credit - Timing
| 4 November 2009 | |
| I have a client who will be purchasing energy-efficient windows that qualify for the Residential Engergy Property Credit. I'm uncertain as to whether the windows need to be installed by 12/31/09, or just purchased to qualify for the credit on the 2009 return. Does anyone have any insight on this?
Thanks | |
| 4 November 2009 | |
| http://www.energystar.gov/index.cfm?c=tax_credits.tx_index#c1
taxbilly | |
| 4 November 2009 | |
| The windows need to be installed by 12/31/09 to take the credit on the 2009 return.
The credit is allowed under IRC §25C. IRC §25C(e)(1) states, “Rules similar to the rules under paragraphs (4), (5), (6), (7), and (8) of section 25D(e) shall apply.” IRC §25D(e)(8)(A) states, “In general.--Except as provided in subparagraph (B) [regarding expenditures that are part of building construction], an expenditure with respect to an item shall be treated as made when the original installation of the item is completed.” | |
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