No. You cannot take any deduction for the labor costs when you installed it yourself. You can only claim actual expenses paid to someone else or for the property.
A second credit? If you only...
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No. You cannot take any deduction for the labor costs when you installed it yourself. You can only claim actual expenses paid to someone else or for the property.
A second credit? If you only installed the water heater/boiler, you can only claim the home improvement energy credit for the boiler, it is a listed item. If you would have done heating and air, then you could claim the credit for both as those are two separate items.
The Home Improvement Energy Efficient Credit is a non-refundable credit
Worth up to 30% of costs with a maximum credit $2,000 for
Air source heat pumps
Heat Pump Water Heaters
Biomass Stoves or Boilers
Worth up to 30% of qualifying costs for a maximum combined total of $1,200 for the following:
Doors, Windows and Skylights
Insulation
Natural Gas, Oil Propane Water Heaters or hot water boilers
Furnaces
Central Air Conditioners ($600 maximum Credit)
Electrical Panel Upgrades
Home Energy Audit (up to $150)
You can combine the $2,000 credit with the $1,200 credit for a total of $3,200
This credit is a use it or lose it credit. If you do have enough tax liability in the year you buy and install the item, you will not be able to carry the credit forward.
NOT available for new construction.
