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RichieLentz
New Member

Where in the energy-efficient improvements can I enter improvements for high efficiency furnace replacements? It only has fields for solar improvements?

 
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KennethB
New Member

Where in the energy-efficient improvements can I enter improvements for high efficiency furnace replacements? It only has fields for solar improvements?

Unfortunately, the tax credit (of 10% of the cost up to $500.00) expired December 31, 2016 for the installation of your high-efficiency furnace.  The credit was only available through the 2016 tax year and is not available for 2017. 

The tax credit for home solar PV and water heating systems doesn't expire for another five years, but the percentage you can claim gradually drops off after 2019.  That is why TurboTax is giving you the option for solar water heating and solar electric costs.

For further information, please see the IRS release concerning residential energy efficient property at the following link: 

https://www.irs.gov/credits-deductions/individuals/residential-energy-efficient-property-credit-sect...

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2 Replies
KennethB
New Member

Where in the energy-efficient improvements can I enter improvements for high efficiency furnace replacements? It only has fields for solar improvements?

Unfortunately, the tax credit (of 10% of the cost up to $500.00) expired December 31, 2016 for the installation of your high-efficiency furnace.  The credit was only available through the 2016 tax year and is not available for 2017. 

The tax credit for home solar PV and water heating systems doesn't expire for another five years, but the percentage you can claim gradually drops off after 2019.  That is why TurboTax is giving you the option for solar water heating and solar electric costs.

For further information, please see the IRS release concerning residential energy efficient property at the following link: 

https://www.irs.gov/credits-deductions/individuals/residential-energy-efficient-property-credit-sect...

Opus 17
Level 15

Where in the energy-efficient improvements can I enter improvements for high efficiency furnace replacements? It only has fields for solar improvements?

All the credits except solar expired at the end of 2016.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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