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