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Level 1
posted Nov 16, 2022 10:15:21 AM

windows and patio door

I installed new windows and a patio door in June can I take a credit under the new law? Also do I have to take it this year or can I take it next year?

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1 Replies
Employee Tax Expert
Nov 16, 2022 12:11:35 PM

The energy credit rules in place when the installation and purchase is made/placed in service would apply:  

"Timing of the credits:  costs are treated as being paid when the original installation of the item is completed, or, in the case of costs associated with the reconstruction of a taxpayer’s home, when his or her original use of the home begins."

Source:  The Tax Book

 

The current tax rules for energy credit for 2022 can be found here:

Energy credit tax rules 2022 

Windows would qualify for up to $200 of the total $500 lifetime energy credit allowed and would be reported on your 2022 tax return.