I need to enter the information for my heat pump (electric or natural gas) which falls under the qualified energy property costs. The heat pump we purchased meets the definition of the highest efficiency tier established by the CEE; I verified this based on my model on Energy Star database. On the turbo tax wizard, there are two rows where you can enter information related to the Heat pump:
Cost of the most expensive heat pump (two columns "QMID" and "your costs")
Cost of all other furnaces or hot water boilers (only one column which is "your costs")
When i read the instructions, it says the following:
"For 2025, enter the QMID (a 4-character alphanumeric Qualified Manufacturer Identification Number) and cost for the most expensive qualifying heat pump, heat pump water heater, and biomass stove/boiler that are entered separately. Then enter the total cost of all other qualifying items for each category."
I know the 4 character QMID and I have an invoice of my costs related to the heat pump. Where I am confused is that the row says "Cost of the most expensive heat pump" that intersects with the column "Your costs". I get at the end of the day or at least I believe Turbo tax wants me to enter what i paid for the heat pump in that intersection but what is confusing is the row that says "cost of the most expense heat pump". I understand that Turbo tax is just using the same language as the IRS form but the way it which it is asking you it seems as though they want you to put an amount of a heat pump that may be what you actually paid for (e.g. most expensive heat pump of Mitsubishi Model A is $10,000 but I bought Mitsubishi Model B for $8,000 yet both Model A and B meet the criteria of the highest efficiency tier established by the CEE).
In summary, I actually paid $8,000 for materials and labor for the heat pump. Am I correct in that i entered the 4 Digit QMID and $8,000 in the row "Cost of the most expensive heat pump" which ultimately populates on line 29a on form 5695
