I am considering installing a ground source heat pump, Geothermal, for my HVAC system. I believe this qualifies for the 30% renewable tax credit. We currently have electric baseboard heating and a fireplace.
The system would consist of digging trenches, installing the heat pump, and all supply/return ducting/vents. If I pay tradesmen to do it, it increases the cost 3-fold.
If I were to do all the labor myself, can I deduct any of the labor?
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No you cannot include your own labor in the cost of a home repair or a home improvement project.
No you cannot include your own labor in the cost of a home repair or a home improvement project.
Thank you DoninGA. I knew that home improvements were not included, was hoping the renewable energy tax credit had an exception since I am saving the environment!
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