So, this $500 energy credit for 2011 that is still hanging on from 2006 and 2007 . . . if a taxpayer did not used it in those years, But took the $1,500 credit in 2009 and 2010, can they still take the $500? In other words the $1500 and $500 credits are separate credits? Cannot seem to find the exact answer anywhere.
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No more credits available
There are two issues.
1 - The maximum credit for such expenses for 2011 is $500. (In prior years it was $1500.)
2 - If the credits claimed in prior years exceed the "lifetime limitation" there is nothing available for 2011. This would include "new" (2011) expenditures.
Look in Part I lines 2e and 10/11 of http://www.irs.gov/pub/irs-dft/f5695--dft.pdf
Also: I hope you did not take a $1500 credit in both 2009 and 2010 .... no can do!!
FE
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