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Busbee72
Level 1

HVAC replaced on Dec 28th, 2024

Can I place this in service in 2024 and claim in 2024, even though payments were processed on Jan 2025?

Thanks so much,

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yesterday
last updated ‎January 21, 2025 1:43 PM
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RobertB4444
Employee Tax Expert
Employee Tax Expert

HVAC replaced on Dec 28th, 2024

If you placed the asset into service on December 28th then that's the date that you enter into the system regardless of when the payment cleared.  There may need to be some work done on your balance sheet though.

 

@Busbee72 

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