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New Member
posted Jun 3, 2019 12:46:44 PM

Is the Nonbusiness Energy Propery Tax Credit applicable to new homes, breaking ground in 2017? What other credit/deductions should I look for?

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1 Best answer
Expert Alumni
Jun 3, 2019 12:46:45 PM

You are allowed to include expenses for Solar Electric costs and Solar Water Heating costs if they were related to the construction of your new home. Other energy-efficient improvements do not qualify.

Also, The nonbusiness energy property credit expired on December 31, 2016, and hasn’t been renewed. The only credits available for 2017 are for Qualified solar electric property costs and Qualified solar water heating property costs.

At the time the Form 5695 went to print, the credit had expired, and the form now shows  Part II  as “Reserved” in case Congress extends the credit for 2017. 

You may be able to ad the sales tax on the building materials used to build your new home  to the sales tax table amount if you itemize deductions.

[Edit 01/21/18 8:56 AM]


 

3 Replies
Expert Alumni
Jun 3, 2019 12:46:45 PM

You are allowed to include expenses for Solar Electric costs and Solar Water Heating costs if they were related to the construction of your new home. Other energy-efficient improvements do not qualify.

Also, The nonbusiness energy property credit expired on December 31, 2016, and hasn’t been renewed. The only credits available for 2017 are for Qualified solar electric property costs and Qualified solar water heating property costs.

At the time the Form 5695 went to print, the credit had expired, and the form now shows  Part II  as “Reserved” in case Congress extends the credit for 2017. 

You may be able to ad the sales tax on the building materials used to build your new home  to the sales tax table amount if you itemize deductions.

[Edit 01/21/18 8:56 AM]


 

Level 15
Jun 3, 2019 12:46:50 PM

You can't claim any credit if you buy a new home, only if you install efficient re-fits to an existing home.  There are separate credits for homebuilders when they build efficient homes.

New Member
Jun 3, 2019 12:46:51 PM

Can I get an energy tax credit for installing new air conditioner and heater