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grjohnston87
Level 1

Deductions

We ordered new windows late last year and we were approved for financing.  We have not made any payments as of 3/17/2021 and they were installed last month.  Are we able to deduct these for the year of 2020 or do we need to wait until payments are made?

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MinhT1
Expert Alumni

Deductions

No, you cannot claim the credit for your new windows in 2020. 

 

You can claim the credit only in the year the windows are placed in service (2021).

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2 Replies
MinhT1
Expert Alumni

Deductions

No, you cannot claim the credit for your new windows in 2020. 

 

You can claim the credit only in the year the windows are placed in service (2021).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

grjohnston87
Level 1

Deductions

Thank you for that short but concise answer.  Def what I was looking for!

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