Deductions & credits

I believe the 30% up to $2K is valid until in 2023.  My licensed installer told me the electric air heatpump tax credit valid in 2023 and beyond. 

The Amana website also shows the unit we purchased qualifies for up to $2K fed tax credit. 

Annual Limits on Energy Efficient Home Improvement Tax Credits

In addition to limits on the amount of credit you can claim for any particular equipment installation or home improvement, there are annual aggregate limits.  The overall total limit for an efficiency tax credit in one year is $3,200.  This breaks down to a total limit of $1,200 for any combination of home envelope improvements (windows/doors/skylights, insulation, electrical) plus furnaces, boilers and central air conditioners.  Any combination of heat pumps, heat pump water heaters and biomass stoves/boilers are subject to an annual total limit of $2,000. (Note: ENERGY STAR certified geothermal heat pumps are eligible for a separate tax credit and not counted against these limits.)

 

 I believe Turbo tax needs to be updated to reflect this.