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    Kodiak100's Avatar
    Kodiak100 Posts: 2, Reputation: 1
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    #1

    Aug 31, 2009, 10:47 PM
    Do I need to itemize decutions for the 2009 energy tax credit?
    Do I need to itemize decutions to take advantage of the 2009 energy tax credit? I am thinking about installing a more efficient heating system, but I need to know if I will truly benefit from the credit before I make my decision. If I would get a $500 refund using standard deductions, will my refund increase to $2000 if I install a heating system that qualifies for the $1500 energy taxt credit?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Sep 1, 2009, 02:51 AM

    The energy tax credit is tax credit. It is not a deduction. The tax credit is subtracted from the tax you owe.

    You will complete Form 5695 Residential Energy Efficient Property Credit and the credit amount goes on line 53 of Form 1040.
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