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Couple joint filing - Non-business energy property credit

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? 

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2 Replies

Couple joint filing - Non-business energy property credit

@Yoyoguy 

 

Q1 - it's per home, so it's $500 maximum

Q2: it will

Q3: again, it is per home, so it's a $2,000 maximum. 

Couple joint filing - Non-business energy property credit

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...

 

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