I installed a ductless mini-split heat pump/AC unit in 2021. It says I am eligible for a Federal HVAC tax credit and a Federal Energy Efficient Tax Credit.
https://powersaveac.com/blog/post/do-mini-splits-qualify-for-tax-credit
https://turbotax.intuit.com/tax-tips/home-ownership/energy-tax-credit-which-home-improvements-qualif...
Federal Energy Efficient Tax Credit
In late 2020, the Further Consolidated Appropriations Act, 2021 was passed and signed by the government. Under this act, if you bought or will buy a ductless mini split system before December 31st, 2021 and you’re a nonbusiness, then you could be eligible for a tax credit.
If your ductless mini split system was installed and running after December 31st, 2022 but before January 1st, 2024, you could get 22 percent off as a tax credit. If your system was installed and running after December 31st, 2019 but before January 1st, 2023, the tax credit is 26 percent.
For those homeowners with a ductless mini split system that was in service before or on December 31st 2019, you could get a 30 percent credit as well.
Federal HVAC Tax Credit
Another possible opportunity for a deduction is the Federal HVAC Tax Credit. This too was passed governmentally in late 2020. If a boiler or furnace qualifies, then you can receive a credit of up to $150.
For any ductless mini split system, packaged unit, heat pump, or central air conditioner that applies, the max credit is $300. You can also apply for credit between $50 and $300 for a specific amount or 10 percent of your mini split price with a max credit of $500.
Where do I put the info to get both credits?
Is it only on Form 5695 (Residential Energy Credits)? How do I see these specific %'s and credits? Thanks.
