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I added a new heat pump this year. Why isn't it affecting my taxes. It says "0" benefit.

Spent $4900 improving my house. Why no benefit on my taxes?
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I added a new heat pump this year. Why isn't it affecting my taxes. It says "0" benefit.

Make sure you've entered ALL your income first.

 

The credit is applied only to the taxes you are actually assessed for  (your "liability...meaning before any withholding or other tax pre-payments are considerred)...so if low income, or no income has been entered, it might not help with your taxes this year, but might be carried forward to next year.

 

So, if you haven't done so yet, keep entering your income as more forms arrive now thru the first week in Feb (sometimes even later if you hold REITs)

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____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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