We transferred the whole house heat pump and hot water heat pump from oil to electric in 2022.
This item (Certain electric heat pump water heaters, electric heat pumps) is listed on the claim list at Turbotax. By going through the items, I do not see the item that I can put the cost I paid.
Would you please let me know which item/category it belongs to?
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Federal
Deductions & Credits
Home Energy Credits
Energy-Efficient Building Property
One more question.
We installed a set of solar panels in 2022.
The qualified solar electric property costs are about $100,000 (including $35K interest), and this will be paid off over 20 years.
Some of the articles mentioned that I can input the whole cost of $100 K for the tax credit in the first year. But I see the statement on TurboTax is "Tell us how much you PAID for these energy-efficient improvements to your home in 2022". So I am not sure if I can put the whole amount of the actual cost ($100k) or just can put the actual amounts that I paid in 2022 on this system.
Truly appreciate your help.
100,000
It does not matter if the expense is financed, you can claim the entire cost.
The only time you can't claim the entire amount is if you get or will get a rebate or government subsidies, such as a state or Utility payment.
(A State payment is NOT the same as a State Credit)
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