I do joint filing along with my spouse.
Question 1: I see "Non-business energy property credit" to be capped at $500. Is it per person ($1000 in my case) while filing (or) for a house ($500)?
I am confused reading the instructions as well https://www.irs.gov/instructions/i5695
Question 2. How does turbotax handle this?
Question 3: With inflation reduction act that's on the fly now, it's raised to $2000 for heat pump installation. If each person in couple can take it, then can we claim $4000 for the same heat pump?
Assuming that the Reduce Inflation Act is signed by the president as-is, the enhanced provisions including the special heat pump credit do not take affect until 2023. See here for more. https://ttlc.intuit.com/community/tax-law-changes/discussion/revisions-to-section-25c-energy-efficie...