I installed a new metal roof with added insulation, a new insulated window, and a wood burning insert (Hampton HI300), all in 2010. I was thinking I would be getting a hefty tax rebate on them all. But now that i am doing my taxes, it appears all these improvements fall into the same category for tax purposes, and the total rebate is limited to $1,500. The metal roof alone cost enough to cover the $1,500, meaning essentially no rebate for the wood burner.
Has anybody here navigated these waters already? Am I interpreting the rebate rules correctly? Is there any clever (legal, but clever) way to get the credit for the wood burner PLUS the roof? Can one of them be deferred? Or something like that?
I know this is not a tax site, but if anyone has advice, I'd appreciate it.
On the bright side, I am LOVING the Hampton insert. Looks great, puts out good heat, been able to get a few overnight burns as I learn how to run it efficiently. Spent the last two weekends in the Tillamook state forest cutting firewood ($10 permit for two cords). I'll be ready for some serious burning next winter.
Has anybody here navigated these waters already? Am I interpreting the rebate rules correctly? Is there any clever (legal, but clever) way to get the credit for the wood burner PLUS the roof? Can one of them be deferred? Or something like that?
I know this is not a tax site, but if anyone has advice, I'd appreciate it.
On the bright side, I am LOVING the Hampton insert. Looks great, puts out good heat, been able to get a few overnight burns as I learn how to run it efficiently. Spent the last two weekends in the Tillamook state forest cutting firewood ($10 permit for two cords). I'll be ready for some serious burning next winter.