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claiming this on your taxes?

So I just updated all the electrical $7,000.00 plumbing $9,000.00 appliences 4,000.00 fixtures, lights, fans, doors and whatnot $3000.00 YES my life savings GONE in three months. LOL can i claim any of this on my taxes?

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Anonymous

Asked by Anonymous at 1:46 PM on Aug. 17, 2010 in Home & Garden

Answers (6)
  • Possibly, if you can prove it has allowed you to save money on your energy costs.
    For instance , if you bought energy star appliances you can take a certain amount of deduction. I doubt you will get anything off on th plumbing unless you put in water saver toilets and shower heads etc. Things like new windows, A/c units and insulating materials are the biggies they consider tight now but anything you can prove to help your home be more energy efficient may be able to be used to lessen your tax liability. MAke sure you have kept your receipts and info on the installed items.
    Also if any of it was needed due to medical reasons. I'd google it till you found exactly what you needed.
    itsmesteph11

    Answer by itsmesteph11 at 1:58 PM on Aug. 17, 2010

  • I think you can if they were "Energy Star" qualified.
    matthewscandi

    Answer by matthewscandi at 1:59 PM on Aug. 17, 2010

  • If appliances were energy star - yes. Doors, lights, electrical, etc. usually not. But if you put in exterior windows that were double pane replacing single pane. - yes
    twinsplus2more

    Answer by twinsplus2more at 2:25 PM on Aug. 17, 2010

  • But, I believe, you can only claim up to 1500.00 for the energy savings things if they fall into the guidelines. Which is much better than it used to be. I spent 10 grand on new windows in 05 and only was able to claim 250.00 against it for energy savings on my taxes. Sadly, your property taxes could go up to reflect the improvements on your home.

    WoodWitch

    Answer by WoodWitch at 9:43 PM on Aug. 17, 2010

  • I believe they are right about the energy credits.
    But when you sell your house, you add this into the cost of the house, before you figure your profit or loss.
    tootoobusy

    Answer by tootoobusy at 7:08 PM on Aug. 20, 2010

  • Only if they were Energy Star Appliances. - the other stuff most likely not.
    Mommy_0f_many

    Answer by Mommy_0f_many at 8:21 AM on Aug. 23, 2010

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