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Deductions & credits
Without knowing what you entered, it is impossible to tell. However, here is the criteria for both the Home Energy Credits. If you are sure you DO qualify and are not seeing the credit in TurboTax, then you would need to go back and double check your answers to be sure you did not enter something incorrectly.
The Home Improvement Energy Efficient Credit is:
- 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
- Worth up to 30% of qualifying costs for a maximum combined total of $1,200 for the following:
- Doors, Windows and Skylights
- Insulation
- Natural Gas, Oil Propane Water Heaters
- Furnaces
- Boilers
- Central Air Conditioners ($600 maximum Credit)
- Electrical Panel Upgrades
- Home Energy Audit (up to $150)
- 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.
The Residential Energy Credit is also a non-refundable credit, however this one can be carried forward to future tax years until this credit goes away which is currently set to happen in 2034
This credit is worth up to 30% of the cost of the equipment, with no maximum limit. The items that fall into this category are as follows:
- Geothermal Heat Pumps
- Small Wind Turbines
- Solar Energy Systems
- Fuel Cells
- Battery Storage Technology
This credit can be taken for new construction
https://www.energystar.gov/about/federal_tax_credits
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