Green Tax Expert
Income Tax Help for Green Businesses
Income Tax Help for Green Businesses
So…I am wondering how his plan work.
I read, that if I replace my furnace to a more efficent one. I can get either 30% tax credit, or maximum 1500 dollars.
What if I also cheap prescription prozac want to replace my windows?
Do I get additional 1500 dollars, or maximum 1500 for all the improvement I done this year?
They are one in the same from the Residential Energy Property Credit (Section 1121). Assuming you’d qualify, you can receive a tax credit equal to 30% of the cost, up to $1,500 max. In other words, you’d have to spend at least $5,000 to receive the max credit.
See http://www.irs.gov/newsroom/article/0,,id=206875,00.html?portlet=7
$1500 is the maximum total credit for furnace plus windows
References :
They are one in the same from the Residential Energy Property Credit (Section 1121). Assuming you’d qualify, you can receive a tax credit equal to 30% of the cost, up to $1,500 max. In other words, you’d have to spend at least $5,000 to receive the max credit.
References :