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I need your advise-Window and Central A/C replacement in 2007.?
In Year 2007, I spent $3,000 to replace the windows and $3,500 to replace the central A/C. They had been replaced in order to improve the energy efficiency. And, now I have a few following questions about how to claim these expenditures on my tax return form (5695). (1) $3,000 includes the labor and window parts together. I have the invoice, but it doesn’t differentiate between the labor cost and parts. Do I have to differentiate between these two? My understanding is that only the window part is qualified for this credit while labor cost is not. (2) What is the maximum credit will I get? Am I going to get a credit of $200 for the window replacement and $300 for the central A/C replacement? In total, will I be able to get $500? Can I carry forward any unused amount into future years? Or, is this credit available only for the years 2006 and 2007? Your generous input is greatly appreciated.
Public Comments
- This is a 2006-2007 credit only.
If you got $500 in 2006, there's none left to get in 2007.
You are probably safe on the windows.
The central A/C had to meet efficiency standards (top of the line models only).
Split Systems:
EER >=12.5
SEER >= 15
Package systems:
EER >= 12
SEER >= 14
That part of the credit was a flat $300.
