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New Member
posted Jun 5, 2019 11:39:05 PM

Can I get a deduction for the energy efficient furnace I got in Oct. 2018?

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1 Best answer
Level 15
Jun 5, 2019 11:39:08 PM

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.

As of this date the Congress has not renewed the Nonbusiness Energy Property Credit for tax year 2018.

The Residential Energy Efficient Property Credit is in effect for 2018 to the end of 2021 - 

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.

3 Replies
Level 15
Jun 5, 2019 11:39:06 PM

Deleted incorrect answer

Level 15
Jun 5, 2019 11:39:08 PM

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.

As of this date the Congress has not renewed the Nonbusiness Energy Property Credit for tax year 2018.

The Residential Energy Efficient Property Credit is in effect for 2018 to the end of 2021 - 

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.

Intuit Alumni
Jun 5, 2019 11:39:11 PM

No your energy efficient furnace does not qualify for the energy tax credit.

Equipment that qualifies for the Residential Renewable Energy Tax Credit includes solar, wind, geothermal and fuel-cell technology:

  • Solar panels, or photovoltaics, for generating electricity. The electricity must be used in the home.
  • Solar-powered water heaters. The water heated by the system must be used inside the home, and at least half of the home's water-heating capacity must be solar. (Solar heaters for swimming pools and hot tubs do not qualify.)
  • Wind turbines that generate up to 100 kilowatts of electricity for residential use.
  • Geothermal heat pumps that meet federal Energy Star guidelines.
  • Fuel cells that rely on a renewable resource (usually hydrogen) to generate power for a home. The equipment must generate at least 0.5 kilowatts of power.

The link below contains information that you may find useful.


https://turbotax.intuit.com/tax-tips/home-ownership/energy-tax-credit-which-home-improvements-qualif...