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It appears the federal tax credit for installing a heat pump is using 2022 information (capped at $300) and not 2023 information (30% of cost up to $2,000)
The Inflation Reduction Act says that I should receive a tax credit for 30% of the cost of installation of a heat pump, capped at $2,000. But Turbotax is capping the tax credit at $300, which is the amount you could get back in credits in the 2022 tax year
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‎February 3, 2024
1:07 PM