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Old 01-10-2011, 07:54 AM
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TomCopeland TomCopeland is online now
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Join Date: Jun 2010
Location: St. Paul, Minnesota
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Default Energy Tax Credit

You can deduct the time-space percentage of the cost of a new heating/ac system. Since this is a home improvement, you must depreciate it over 39 years.

Assuming your heating/ac system was energy efficient, you may also be entitled to claim a federal energy tax credit. See my recent blog post on this: http://tinyurl.com/4rn3hmw

The blog post says that you can't claim the maximum energy tax credit if your time-space percentage was over 20%.
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