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Deductions & credits
Yes. You can enter shared costs and the credit will be divided according to your portion of the total costs. In the "Home Energy Credit" topic you will be asked if you shared the costs with someone who also lived in the home; answer "Yes" to that question. On subsequent pages you will be asked to enter your costs and the total cost of each improvement. Those entries will establish a proportion used to allocate the credit amount. For example, if the maximum credit for your improvements is $1200 and you spent $6000 while the total cost was $12,000, then your max credit will be 50% of the the available credit (1200) or $600.
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‎April 2, 2024
9:03 AM