To enter these credits into TurboTax take the following steps:
- Federal
- Deductions and Credits
- I'll Choose what I work on
- Home Energy Credits which is under the "Your Home" category
If you are not seeing the option to enter the Heat Pump, go back and double check your answers. If you answered that this was related to the construction of your home or the home was not your primary home or was not in the US, you are not eligible to take the credit so you will not get the page to enter the Heat Pump.
The Home Improvement Energy Efficient Credit is a non-refundable credit
- Worth up to 30% of costs with a maximum credit $2,000 for
- Air source heat pumps
- Heat Pump Water Heaters
- Biomass Stoves or Boilers
- You can combine the $2,000 credit with the $1,200 credit for a total of $3,200
- This credit is a use it or lose it credit. If you do have enough tax liability in the year you buy and install the item, you will not be able to carry the credit forward.
- NOT available for new construction.
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