turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Entering Home Energy Credits

We installed a new 4 ton unit, a 95% energy efficient furnace and a Low Global Warming Potential Heat Pump.  The installer included the cost of parts, installation, and the units in one price.  Do I need to call them and ask them to break it down by unit as it is divided up in Turbo Tax?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
DaveF1006
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Entering Home Energy Credits

Yes, you should get a price breakdown because if your installer billed you $15,000 for the whole job and you put that entire amount into the "Heat Pump" section of TurboTax, the software will stop giving you a credit once you hit the $2,000 heat pump limit. However, if you have a separate line item for that 95% efficient furnace, you can unlock an additional $600 credit for that unit.

 

If your installer won't give you a breakdown (or is slow to respond), you are allowed to make a "reasonable allocation" of the total price.

**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

1 Reply
DaveF1006
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Entering Home Energy Credits

Yes, you should get a price breakdown because if your installer billed you $15,000 for the whole job and you put that entire amount into the "Heat Pump" section of TurboTax, the software will stop giving you a credit once you hit the $2,000 heat pump limit. However, if you have a separate line item for that 95% efficient furnace, you can unlock an additional $600 credit for that unit.

 

If your installer won't give you a breakdown (or is slow to respond), you are allowed to make a "reasonable allocation" of the total price.

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question