y3maya
New Member

Can a credit be claimed for swapping out an inefficient gas space heater for an electric heat pump?

This is the small home's entire heating system.

Get your taxes done using TurboTax

You can receive a tax credit for the cost of the electric heat pump installed in the home, however the credit is limited.

See IRS Form 5695 Instructions for the Nonbusiness Energy Property Credit on page 2 - https://www.irs.gov/pub/irs-pdf/i5695.pdf