Your energy-efficient air conditioning (CAC or HVAC) system may qualify for an energy credit. You'll enter the cost of the qualifying air conditioner under Tell Us How Much You Paid for Energy-Saving Improvements as an Energy-Efficient Building Property. (Click the screenshot below for reference.)
To enter your energy-efficient property in TurboTax:
- Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click Tax Tools (lower left side of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the I'm looking for: box, type 5695.
- In the results box, highlight 5695, residential energy credit, then click GO.
- Follow the onscreen instructions to complete this section. Be sure to click the Learn more links if you have any questions. (Remember, a qualifying air conditioning system is entered under Energy-Efficient Building Property.)
- After you enter the cost of your air conditioner and answer the corresponding questions, TurboTax will determine if you qualify for an energy credit.
Note: If using the TurboTax CD/Download software, you'll use the Find function and the "Jump to" link (instead of "Tax Tools") to search for the topic.
The Nonbusiness Energy Property Credit has a lifetime total combined limit of $500, so if you have claimed the credit in a prior year your current tax year deduction may be reduced. See IRS Instructions for Form 5695, Residential Energy Credits for more information.
Can I claim energy-saving home improvements? https://ttlc.intuit.com/replies/3300639
[Edited 03.13.2018 I 12:35PM PDT]
Yes
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