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June 3, 2019
Question

Can I add, a new roof, energy efficient furnace , air conditioner ,and windows

  • June 3, 2019
  • 1 reply
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1 reply

Employee
June 3, 2019

The tax credit for energy efficient home improvements expired at the end of 2016, except for solar.

It is part of a "tax extender" package that is stuck in Congress.  If it is passed, and made retroactive, the forms will be fixed and you will be able to file an amended return.  Each improvement needs to meet specified energy savings standards that will be listed in the instructions.  (Not all improvements qualify, even if they are efficient.)

The value of the improvements is added to your home cost basis and may reduce your capital gains when you sell.

June 3, 2019
How will we know if it passes to do an amended tax