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Who qualifies to claim a residential energy property credit? Are there limitations? (updated April 27, 2021)
A. You may be able to take these credits if you made energy saving improvements to your principal residence during the taxable year. In 2018, 2019 2020, and 2021 the residential energy property credit is limited to an overall lifetime credit limit of $500 ($200 lifetime limit for windows). There are also other individual credit limitations:
The residential energy property credit is nonrefundable. A nonrefundable tax credit allows taxpayers to lower their tax liability to zero, but not below zero.
No, a whole house fan does not qualify as a Main Air Circulating Fan (that is a specialized motor for your furnace).
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