3 questions about new fed tax rebate

[anitje]

1. Is the new "cash for clunkers" fed tax credit on a/c system upgrades in ADDITION to the $1500 fed tax credit already offered on energy upgrades? In other words, if I am already claiming the maximum $1500 credit on upgrade of windows and heating system, can I still trade in my old A/c and get an additional credit up to $1500 for that?

2. If you claim the max. $1500 credit on your 2009 return, can you claim an additional $1500 on your 2010 return if you do more qualifying upgrades the following year, or can you only claim it once?

3. Does anybody know a web site where the fed government explains all the rules?

Thanks.

[jimj]

1. No
2. No
3. Not fed website but great info. http://www.ahrinet.org/Content/FederalTaxCredits_896.aspx

[DanW13]

Go to energystar.gov there you will find all the answers to yoru questions about the Tax Credit.

The maximum is $1,500 regardless if your using the insulation, windows, HVAC equipment or other qualifying expenditures to claim the credit your still only going to be able to take the max. of $1,500 and that's maximum is for both tax years 2009-20010.

[sktn77a]

1. Is the new "cash for clunkers" fed tax credit on a/c system upgrades.......

Never heard of this???

[chambery1]

Never heard of this???

Part of the federal stimulus package.

It's a federal funding program to each state. Your state submits a proposal to the Fed as to how they would "qualify" energy efficient spending for additional federal tax credits. So each state's rules will probably be different.

Arkansas is "qualifying" Energy Star approved refrigerators, dishwashers, clothes washer, dryers, window A/C's (lots of mobile homes here, lol) and other small variety appliances. But not on HVAC systems as yet (programs rules are still being determined, but state higher up told me no HVAC).

Your state will almost certainly be different, so check with your state energy office for details. YMMV

[beenthere]

Go to energystar.gov there you will find all the answers to yoru questions about the Tax Credit.

The maximum is $1,500 regardless if your using the insulation, windows, HVAC equipment or other qualifying expenditures to claim the credit your still only going to be able to take the max. of $1,500 and that's maximum is for both tax years 2009-20010.
Are you sure about that.

Geo's aren't limited to $1500

[gary_g]

Does anybody know a web site where the fed government explains all the rules?



http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Take care.

[DanW13]

Thats the only exception, Geo systems, and solar, and wind power equipment, where it's more but I can't say for sure what the amount of rebates are for those areas of HVAC.

[gary_g]

Thats the only exception, Geo systems, and solar, and wind power equipment, where it's more but I can't say for sure what the amount of rebates are for those areas of HVAC.

30% of cost.

See link in Post #7.

Take care.

[wahoo]

I've heard some "cash for clunkers" ads by some HVAC companies, and these are simply "foot in the door" type ads. They have NO connection to any Fed. program except a thinly veiled (sp?) attempt to get into your pocketbook!! Based on the weather in our part of the country, right now,most HVAC contractors would bring their mothers to clean you home if you'd buy a system!!!! Oh darn, I just gave my next ad subject away!!!

[sixshooter7654]

I got an idea how about the GOV keep there tax credits I don't want them.

[trey r]

I got an idea how about the GOV keep there tax credits I don't want them.


OK, well some people do. Thanks for adding nothing.

[jerryd_2008]

I got an idea how about the GOV keep there tax credits I don't want them.

Some tax credits are a wise use of tax money. Others are too excessive. IMO those for solar and wind are not cost effective because ROI fails. Even geothermal is questionable for many updates. Those that encourage big moves to more efficient systems have long term benefits for both the HO and the Country.

[DanW13]

The Solar and Wind is a bunch of just that Hot AIR !!!! There's more maintenance than anything else a HO would use to H/C there homes PERIOD and because BO and his administration is high on the Environmental Health Kick is the only reason there subsidized more than Air source HP's, NG furnace's and other more proven way's & Means of efficiency.

The good old Gov't who knows best, but in reality all should be treated the same or none at all, it all depends on where one lives makes it Dependant on what type of H/C will work such as Wind for example, where Wind is better suited for those up in the North East, and those in and around the South West regions of the Country. Where Solar is best for areas around New Mexico and Arizona and Ground Source HP's can pretty much be used thru out the Midwest and south East regions.

This rebate, Tax Credit could be challenged for being distrubuted unfairly among the population where there's not everyone can take advantage of the Tax credits, or rebates equally :eek2:

[jerryd_2008]

The Solar and Wind is a bunch of just that Hot AIR !!!! ...

AMEN!!!! A caveat. If the efficiency of solar or the cost could be lowered, I don't object as much. But putting in $$$$$ systems because one gets 30% from the Feds and a big chunk from the state/utility is a pipe dream. Let those that just can't resist having the status, like movie stars, etc., pay for it.


The good old Gov't who knows best, but in reality all should be treated the same or none at all ...

This rebate, Tax Credit could be challenged for being distrubuted unfairly among the population where there's not everyone can take advantage of the Tax credits, or rebates equally :eek2:

Not totally in agreement. If you want to control energy usage and energy imports, those that can afford new, efficient systems should be encouraged if they are cost effective. There are many programs that the poor can tie into that take the energy efficiency route like insulation, caulking, and other low cost, big return fixes. I can't believe the stories I hear regularly on a weekly form an energy consultant where people are paying huge bills because their homes are so poorly sealed. Of course, those that can afford the new systems should do these same fixes before replacing systems also.

[FirstHomeBuilt]

Cash for clunkers is a new gov program, its actually referred to as appliance rebates. Google appliance rebates to find more information. This is not the tax credit for energy star program. This program hasn't started yet. A certain amount of money is given to each state to distribute how they want in some from of rebates. The states have a deadline to submit how they want to distribute the funds by Oct 15th. Rebates won't start until sometime after that.

[DanW13]

Yeah it's always best to let some bureaucrats distribute the money right, LOL !!! I say give it to all those who pay property taxes and let the HO do with it what they feel will help them, weather it's paying bills, buy a new appliance, or saving the money for a rainy day who cares at least everyone will get equal benefits from the Stimulus that way IMO.