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Does an otherwise qualified REPLACEMENT geothermal system qualify for the residential energy credit? My old heat pump failed and I replaced it with a new one.
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June 3, 2019
11:39 AM
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Deductions & credits
Yes, a full replacement of the heat pump would be considered an improvement.
The requirements for the credit are that the Geothermal Heat Pump meets the Energy Star Requirements.
https://www.irs.gov/instructions/i5695
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June 3, 2019
11:39 AM