@Ben202
The new credit limits take effect in 2023. For property placed in service in 2022, the credit for a heat pump is 10% with a cap of $300 and a lifetime cap on all credits under that section of $500.
Also, the credit can only be claimed in the year the property is placed in service. If the property is placed in service in 2022, you can only claim the 2022 credit. You can’t also claim a share of the larger credit in 2023.
