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Deductions & credits
The Chicago Tribune recently had an article saying this energy tax credit will be reinstated with the new tax bill and will be retroactive to 2017 taxes. Will Turbo Tax be making a software update to allow for this?
"Other potentially useful expired tax benefits that were revived retroactively for 2017 under the budget agreement involve energy-conserving improvements made to your home. The new extension allows you to get a tax credit of 10 percent of what you spent on certain improvements such as insulation, energy-efficient windows and doors and roofs. The cost of installing the improvements cannot be included in the calculation of the credit amount."
source: Hidden homeowner tax benefits in new budget deal can be used for 2017 taxes
link: <a rel="nofollow" target="_blank" href="http://www.chicagotribune.com/classified/realestate/ct-re-0225-kenneth-harney-20180220-story.html">h...>
"Other potentially useful expired tax benefits that were revived retroactively for 2017 under the budget agreement involve energy-conserving improvements made to your home. The new extension allows you to get a tax credit of 10 percent of what you spent on certain improvements such as insulation, energy-efficient windows and doors and roofs. The cost of installing the improvements cannot be included in the calculation of the credit amount."
source: Hidden homeowner tax benefits in new budget deal can be used for 2017 taxes
link: <a rel="nofollow" target="_blank" href="http://www.chicagotribune.com/classified/realestate/ct-re-0225-kenneth-harney-20180220-story.html">h...>
‎June 6, 2019
8:23 AM