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coby6348
New Member

In 2017 can you only get energy credits for Solar? If you have a A/C that is not solar does it not qualify?

 
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KennethB
New Member

In 2017 can you only get energy credits for Solar? If you have a A/C that is not solar does it not qualify?

That is correct.  Your A/C (even if considered energy efficient) that is not solar does not qualify for the energy efficient tax credit if it was not placed in service prior to December 31, 2016. 

Unfortunately, the tax credit (of 10% of the cost up to $500.00) expired December 31, 2016 for home insulation products including batts, rolls, blow-in fibers, rigid boards, expanding spray, and pour-in-place insulation.  The credit was only available through the 2016 tax year and is not available for 2017. 

The credit for solar electric property and solar water heating property is extended for property placed in service through December 31, 2021, at  applicable percentages  as described in the statute.

The tax credit for home solar PV and water heating systems doesn't expire for another five years, but the percentage you can claim gradually drops off after 2019.  That is why TurboTax is giving you the option for solar water heating and solar electric costs.

For further information, please see the IRS release concerning residential energy efficient property at the following link: https://www.irs.gov/credits-deductions/individuals/residential-energy-efficient-property-credit-section-25d-at-a-glance

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1 Reply
KennethB
New Member

In 2017 can you only get energy credits for Solar? If you have a A/C that is not solar does it not qualify?

That is correct.  Your A/C (even if considered energy efficient) that is not solar does not qualify for the energy efficient tax credit if it was not placed in service prior to December 31, 2016. 

Unfortunately, the tax credit (of 10% of the cost up to $500.00) expired December 31, 2016 for home insulation products including batts, rolls, blow-in fibers, rigid boards, expanding spray, and pour-in-place insulation.  The credit was only available through the 2016 tax year and is not available for 2017. 

The credit for solar electric property and solar water heating property is extended for property placed in service through December 31, 2021, at  applicable percentages  as described in the statute.

The tax credit for home solar PV and water heating systems doesn't expire for another five years, but the percentage you can claim gradually drops off after 2019.  That is why TurboTax is giving you the option for solar water heating and solar electric costs.

For further information, please see the IRS release concerning residential energy efficient property at the following link: https://www.irs.gov/credits-deductions/individuals/residential-energy-efficient-property-credit-section-25d-at-a-glance

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