OK stove/ tax experts, riddle me this....

[tickbitty]

We are probably getting our insert right after Christmas. I am ordering the liner online today. Stove might get installed right around or right after the new year depending on when the installer can do it or when the liner comes.

SO, my question is this, if I pay for some things in 2009 and some things in 2010, what year do I take the tax credit? I assume it should not be split since the whole thing is one "event."

Before you say ask my tax guy, I already did and offhand he did not even realize that the install was included. (I told him I am certain that it is) He seemed to figure that we should try to get the stove itself (largest part of the price of course) in 2009 to count it as 2009 but I am worried if the installer (a handyman friend) can't do it till later, or if the liner doesn't arrive soon enough, that it might not work. (By getting my own liner and having someone else do the install, I am probably saving about $800 off what the package would cost from the retailer doing the install plus I will be getting an insulated liner which the stove store apparently thinks is dumb, they do uninsulated and think it's a waste of money - which is why I am not doing the package with install which would be a lump sum.)

 

[Fsappo]

Just pay for the stove now. Then it's all paid for and you claim it all at the same time.

 

[tickbitty]

Thanks Franks, but I am still uncertain then if the install is done after the new year whether it would or should be covered under this year?

 

[Fsappo]

I would just wonder if the stove would be installed before the auditer arrives. If I was advising my customer, I would tell them to file it in 2011 if the stove was installed in 2010, I suppose. But now your just getting my opinion instead of the facts..lemme go re read that stupid rule real fast.

 

[Slow1]

I believe the language of the rebate is along the line of "put in service" so the date would be when the install is completed regardless of when anything is paid for.

 

[Fsappo]

Yup, its put in service. So if its installed in 2010, claim it in 2011