You'll claim the entire amount on your 2022 income tax return. Per IRS: The amount of the credit you can take is a percentage of the total improvement expenses in the year of installation:
- 2022: 30%, up to a lifetime maximum of $500
- 2023 through 2032: 30%, up to a maximum of $1,200 (biomass stoves and boilers have a separate annual credit limit of $2,000), no lifetime limit.
You can enter qualified energy-savings improvements as follows:
- Open or continue your return, if you don't already have it open
- In TurboTax, search for energy improvements (Don't search for energy credit as this will take you to the wrong place)
- Select the Jump to link in the search results
- On the Energy-Saving Home Improvements screen, answer Yes and Continue. Follow the instructions on the next screens
- The first part of the interview covers improvements like doors, windows, furnace, air conditioning, and heat pumps. If you're looking for other improvements like solar, geothermal, wind, and fuel cell, just keep going—we'll ask you about these soon
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