My mother passed away a few years ago. In her last Will and Testament all of the possessions of her estate, including a house, were equally split between my Mom’s 4 offspring’s – my 2 sisters and my brother. One of sisters has been living in the house, located in North Carolina, as her “main home” for a number of years. As the house still holds very special memories for all 4 of us, occasionally me and my brother will spend dollars towards the general upkeep and improvement of the house. In 2021 my brother and I spent about $3,500.00 to install a new “Electric Heat Pump” for the house. I actually live in New Jersey, but my comprehension of the IRS regulation 5695 concerning “Residential Energy Improvements”, is that I cannot deduct any of the expenses (or $1,750.00) expended towards the installation of the new Electric Heat Pump because the house is not my “main home”, although I am part owner of the house via the sentiments as expressed in the Will. Given the above scenario, can TurboTax re-confirm for me that “I cannot deduct any of the costs on my taxes that I expended towards the installation of the Electric Heat Pump system, even though I partly own the house? Would appreciate any guidance offered, whether positive or negative. Thank you.
