I own a condo that is my primary residence. The building has decided to replace the HVAC system. Can I claim any credits or deduct anything? If I can, what type of documentation would I need to obtain from the HOA?
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If the HVAC system for your individual unit is being replaced, and you pay for, there is a $300 credit available if the unit qualifies. You need to obtain a Manufacturer Certification Statement. If it is a system for the entire building, you won't be able to take a credit.
If the unit is Energy Star efficient you can claim energy credit. Your cost would be the cost of the unit with installation multiplied by the percentage of ownership based on the number of units in your condo building if the unit serves the common area of the building. . Documentation could include the seller’s invoice.
They are replacing both the convector units in my unit and the whole building.
If it qualifies and you can get Manufacturer Certification Statement, then you take the credit.
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