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Why do I only get a $150 credit for installing an energy efficient furnance and air conditioner ($8652) when the cap is $500.00
June 3, 2019
6:01 PM
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Get your taxes done using TurboTax
You need to enter two amounts. One for the furnace and one for the air conditioner. See the screenshot below.
- The furnace is eligible for a maximum credit of $150 and the air conditioner is eligible for a maximum $50 credit.
- Each energy improvement has its own maximum credit allowed.
- The $500 is maximum what you could receive for all improvements, like furnace, air conditioner, insulation, windows, etc.
Tip: You can see which energy-saving home improvements qualify for a federal tax credit at the Energy Star website.
Energy Improvements are entered in the Deductions & Credits section:
- Open your return, if you don't already have it open.
- In TurboTax, search for energy improvements. (Do not search for "energy credit," as this will take you to the wrong place in the program.)
- Click the "Jump to" link in the search results.
- At the bottom of the Energy-Saving Home Improvements screen, answer Yes and continue. Follow the on-screen instructions.
June 3, 2019
6:01 PM