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cgumacal
New Member

Put in a new HVAC system and upgraded all my insulation in October 2016. I did not claim this on my taxes last year. Can I claim this year? How do I know I qualify?

 
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Opus 17
Level 15

Put in a new HVAC system and upgraded all my insulation in October 2016. I did not claim this on my taxes last year. Can I claim this year? How do I know I qualify?

No, you would have to report it on your 2016 return.

Insulation (part of a system designed to prevent heat gain, heat loss, or air infiltration) is eligible for a 10% credit on cost of materials only, not including installation.

An efficient air conditioner is eligible for a 10% credit on the cost of materials plus installation ($300 max) if the unit meets the highest efficiency tier that has been established by the CEE as in effect on January 1, 2009.  You would have to check the manufacturer to see if the A/C is in the highest efficiency tier.  

 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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2 Replies
Opus 17
Level 15

Put in a new HVAC system and upgraded all my insulation in October 2016. I did not claim this on my taxes last year. Can I claim this year? How do I know I qualify?

No, you would have to report it on your 2016 return.

Insulation (part of a system designed to prevent heat gain, heat loss, or air infiltration) is eligible for a 10% credit on cost of materials only, not including installation.

An efficient air conditioner is eligible for a 10% credit on the cost of materials plus installation ($300 max) if the unit meets the highest efficiency tier that has been established by the CEE as in effect on January 1, 2009.  You would have to check the manufacturer to see if the A/C is in the highest efficiency tier.  

 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

Opus 17
Level 15

Put in a new HVAC system and upgraded all my insulation in October 2016. I did not claim this on my taxes last year. Can I claim this year? How do I know I qualify?

Also, the maximum credit for the A/C is $300 and there is a $500 lifetime maximum for all residential energy efficiency credits (going back to the start of the credit in 2005).
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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