Home Renovation Tax Credit (HRTC)
I plan to renovate my principal residence and want to claim the new HRTC (Home Renovation Tax Credit) for the year 2009. However, after the renovation, we will be putting the house for sale. By all chances we will be in a new residence by the time we file our returns next year. Will this expense qualify to claim HRTC? Point to note is that this is valid only for the principal residence.
This is a new credit, so not many people know about it. Any guidance is greatly appreciated. Thanks in advance.
As far as the expense you carry out is done on the principal residence at the time of the expense there is no reason not to qualify.
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