Energy credit built new home

5511 — Tue, 04 Jun 2019 22:53:48 GMT

I built a new home that is total electric. Do I qualify for home energy credit?

How do I enter the Energy Tax Credit carryover for our ge...

rrangan — Tue, 04 Jun 2019 22:53:49 GMT

How do I enter the Energy Tax Credit carryover for our geothermal unit?

It depends. There are two broad types of credits: Resid...

ThomasM — Tue, 04 Jun 2019 22:53:51 GMT

It depends. There are two broad types of credits: Residential Energy Efficient Property Credit and the Non-Business Energy Property Credit. Each is unique, with its own set of rules & requirements.

Since you mentioned that this was new construction, that eliminates the Non-Business credit, since that's exclusively for existing homes (not new construction).

The Residential credit is a possibility, but only if the electricity is generated by solar power or fuel cell power. The credit is also available for small wind energy systems and geothermal heat pumps.

Here's a link to the instructions for IRS form 5695, which discusses all aspects of these credits: https://www.irs.gov/pub/irs-pdf/i5695.pdf

topic Energy credit built new home in Deductions & credits

Energy credit built new home

How do I enter the Energy Tax Credit carryover for our ge...

It depends. There are two broad types of credits: Resid...