Possibly. Your central air conditioner or HVAC system may qualify for an energy credit of up to $300 if it meets the energy efficiency requirements.
To enter your energy-efficient air conditioner in TurboTax:
- Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click My Account (top right of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the search bar, type 5695.
- In the results box, highlight 5695, residential energy credit, then click GO.
- Follow the onscreen instructions to complete this section. You'll enter the air conditioner as an Energy-Efficient Building Property. (Click the screenshot below for reference.) Be sure to click the Learn more link if you have any questions.
- After you enter the cost of your air conditioner and answer the corresponding questions, TurboTax will determine if you qualify for an energy credit.
Note: If using the TurboTax CD/Download software, you'll use the Find function (instead of "My Account") to search for the topic.
The Nonbusiness Energy Property Credit has a lifetime total combined limit of $500, so if you have claimed the credit in a prior year your 2016 deduction may be reduced. See IRS Instructions for Form 5695, Residential Energy Credits for more information.
