Solved: Does an otherwise qualified REPLACEMENT geothermal system qualify for the residential energy credit? My old heat pump failed and I replaced it with a new one.
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mconley8871
New Member

Does an otherwise qualified REPLACEMENT geothermal system qualify for the residential energy credit? My old heat pump failed and I replaced it with a new one.

 
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Vanessa
Level 3

Does an otherwise qualified REPLACEMENT geothermal system qualify for the residential energy credit? My old heat pump failed and I replaced it with a new one.

Yes, a full replacement of the heat pump would be considered an improvement. 

The requirements for the credit are that the Geothermal Heat Pump meets the Energy Star Requirements.  

https://www.irs.gov/instructions/i5695

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Vanessa
Level 3

Does an otherwise qualified REPLACEMENT geothermal system qualify for the residential energy credit? My old heat pump failed and I replaced it with a new one.

Yes, a full replacement of the heat pump would be considered an improvement. 

The requirements for the credit are that the Geothermal Heat Pump meets the Energy Star Requirements.  

https://www.irs.gov/instructions/i5695

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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