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Can I Add my home repair expenses from 05 into 06 taxes, it was paid my by credit in 2005, paid off in 2006? |
Can I Add my home repair expenses from 05 into 06 taxes, it was paid my by credit in 2005, paid off in 2006? your talking about energy credit for homeowner? The residential energy credits 5695? Ya I put installation in the wall and stuff. maxium is $500.00, problem is I did it 2005 too the "intend" of the law states "the amount of expenditures for residential energy property paid or " INCURRED" by the taxpayer during the taxable year." so no..............sign No, you would have to use them in 2005. Payment by credit card is the same as paying by cash or check according to the IRS. Home repairs are not deductible so it doesn't matter when or how they were paid for. |
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