If we purchased a new furnace and air conditioner under the HERO plan in 2016, first payment due in 11/2017, how can I use it for 2017 taxes

laruef · ‎June 5, 2019

Is there anything I need to note on my taxes this year to be able to use the 2016 installation for my 2017 taxes?

MinhT · ‎June 5, 2019

You can claim the energy tax credit on your furnace and air conditioner on your 2016 tax return if you purchased them in 2016. The HERO plan is a financing plan only. You have installed the equipment in 2016 and should the credit in 2016.

In TurboTax, to claim the credit, please follow these steps:

Click on Federal Taxes
Click on Deductions & Credits
Under All Tax breaks, locate the section Your Home and click on Show more
Click Start next to Home Energy Credits (see attached screenshot).
TurboTax will take through an interview and you can enter the details of your eqipment..

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

MinhT · ‎June 5, 2019

You can claim the energy tax credit on your furnace and air conditioner on your 2016 tax return if you purchased them in 2016. The HERO plan is a financing plan only. You have installed the equipment in 2016 and should the credit in 2016.

In TurboTax, to claim the credit, please follow these steps:

Click on Federal Taxes
Click on Deductions & Credits
Under All Tax breaks, locate the section Your Home and click on Show more
Click Start next to Home Energy Credits (see attached screenshot).
TurboTax will take through an interview and you can enter the details of your eqipment..

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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If we purchased a new furnace and air conditioner under the HERO plan in 2016, first payment due in 11/2017, how can I use it for 2017 taxes

If we purchased a new furnace and air conditioner under the HERO plan in 2016, first payment due in 11/2017, how can I use it for 2017 taxes

If we purchased a new furnace and air conditioner under the HERO plan in 2016, first payment due in 11/2017, how can I use it for 2017 taxes