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Old 09-29-2009, 10:46 PM   #16
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New Furnace Installation


The new unit I installed was a Luxaire (Dayton Branded). Luxaire/York/Unitary Products all the same unit. So far I cannot complain. When my friend came to do the duct work tie in, he looked at the unit, and was impressed. He liked the clear exchage cover for the same reason, and commented on the unit constuction. For the price I got it for, can't beat it. I am really looking forward to seeing how much of a change I get on my heating bills this winter. Went from a 70's Lennox to a 95% Efficient 2009 model. Good times ahead.

TJ

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Old 09-30-2009, 04:20 AM   #17
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Originally Posted by Scuba_Dave View Post
Correct, total is for the entire 2 years, not per year
You can use part one year, then the rest the next year
Maybe that that is what Been meant
Where is the section that says 1500 total max of all combined improvements.

PS: Geothermal and certain other energy improvements(solar panels, etc) are 30% with no dollar amount limit.
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Old 09-30-2009, 07:02 AM   #18
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New Furnace Installation


There are some exceptions to the rule:

http://www.energystar.gov/index.cfm?...ts.tx_index#s1

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$1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 & 2010 for most home improvements, EXCEPT for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems which are not subject to this cap, and are in effect through 2016
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Old 09-30-2009, 10:09 AM   #19
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New Furnace Installation


I was also told.
That if a husband and wife file separately they.
they can each claim a credit. As long as they are both listed on the deed.
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Old 09-30-2009, 10:27 AM   #20
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Originally Posted by beenthere View Post
I was also told.
That if a husband and wife file separately they.
they can each claim a credit. As long as they are both listed on the deed.
Yes, I read that the other day
Might possibly work for us, have to have our Tax guy run the numbers

http://energystar.custhelp.com/cgi-b...9MQ%2A%2A&p_li=

Quote:
Question Does the $1,500 tax credit double for married people filing a joint tax return?

Answer No, the $1,500 tax credit does not double for married people filing jointly... unless both you and your spouse owned and lived apart in separate main homes.

However, married people filing separately can both claim the $1,500 tax credit, as long as you are both claiming separate expenses. For example, you could spend $5,000 on windows and get the $1,500 tax credit (30% of $5,000 = $1,500), and your spouse could spend $5,000 on a new HVAC system and get $1,500 back for that.
If you have $10,000 of tax credit eligible expenses (so, you could get a total of $3,000 in tax credits, as opposed to just $1,500), then you may want to run the numbers to see if filing separately this year will be more beneficial than filing jointly. Generally, filing jointly is financially better for married people.

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