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I need to replace the 2 air conditioning units this year with federal standard units. How do I calculate the energy tax credit, that I can take on my 2019 return?
June 1, 2019
5:20 PM
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Business & farm
Unfortunately, the Nonbusiness Energy Property Credit expired after tax year 2017. This credit was for certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass, energy-efficient windows and skylights, energy-efficient doors, qualifying insulation and certain roofs.
The Residential Energy Efficient Property Credit is in effect for 2018 to the end of 2021 - This year you can only claim a credit if you have installed one of the following:
Qualified solar electric property, Qualified solar water heating property, Qualified small wind energy property, Qualified geothermal heat pump property and Qualified fuel cell property costs.
June 1, 2019
5:20 PM