Energy credit for a new home?

Sparsile
Sparsile Member Posts: 2 Newcomer
edited December 2024 in Credits/Deductions

We built a new house in 2023. We paid extra for a heat pump. Can we amend our 2023 return to take advantage of the tax credit?

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Answers

  • Diana
    Diana FreeTaxUSA Agent Posts: 9
    edited May 7

    The Home Energy Credit allows for you to claim your heat pump (if it qualifies) up to $2,000, or 30% of the total cost. To see if it qualifies, please see:

    https://www.energystar.gov/productfinder/product/certified-heat-pumps/results

    Generally, this credit is nonrefundable. This means that you can't get back more on the credit that you owe in taxes.

    If you already filed your 2023 return without it, you can amend your return to include the Home Energy Credit.

  • Kellip
    Kellip FreeTaxUSA Agent Posts: 12

    Hey Sparsile. Thank you for joining our live event today for questions. According to the Energy Star website and federal credit it states the credit cannot be take for a new build.

    "You may claim the energy efficient home improvement credit for improvements to your main home (where you live most of the time). Your home must be in the U.S., and it must be an existing home that you improve or add onto. This credit does not apply to a newly built home."

    https://www.energystar.gov/about/federal-tax-credits

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