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Energy Credit Revised for 2008 Taxes

Discussion in 'Off Topic Threads' started by BT-100dc, Jan 5, 2009.

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  1. BT-100dc

    BT-100dc Active Member

    Joined:
    Nov 7, 2008
    Messages:
    1,487
    To my dismay, the up to $500 tax credit for individual taxpayers that deals with the new installation of a high efficiency furnace, furnace motor, insullated outside doors, high efficient air conditioning has been eliminated for 2008. This had been allowed for 2007 & some previous years. What were these guys thinking who writes these laws? Of course they continued the solar credits but when you live in an area (NE Ohio) with 90% cloud cover, create sunshine?? If these Einsteins want people to save energy, create the incentive. Darrell
     
  2. tachyon

    tachyon Member

    Joined:
    Jan 29, 1998
    Messages:
    670
    The original program was approved by congress through 2007. The credit program expired at the end of 2007. So any improvements made in 2008 will not be covered.

    In October congress passed and Bush signed a new bill which will reinstate the program for 2009. If the improvements were "placed in service" in 2008 then no credit, if "placed in service" in 2009 then a credit is available.
     
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