Deductions

grjohnston87 · ‎March 17, 2021

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?

MinhT1 · ‎March 17, 2021

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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MinhT1 · ‎March 17, 2021

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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**Mark the post that answers your question by clicking on "Mark as Best Answer"

grjohnston87 · ‎March 17, 2021

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

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