Heat Pump HVAC Tax Deduction

uncert
uncert Member Posts: 2 Newcomer
edited April 1 in Credits/Deductions

This page @ IRS
https://www.irs.gov/credits-deductions/home-energy-tax-credits

links to this page
https://www.energy.gov/policy/articles/making-our-homes-more-efficient-clean-energy-tax-credits-consumers

Which says that Heat Pumps are deductible, up to 30% of cost. But your software won't allow me to select anything about that. It lets me select for solar and geothermal, but this is a standard electric HVAC.

Also, in order to get to this page, I had to select Itemized Deductions. Am I ineligible for it with Standard Deduction?

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Answers

  • knittingfun
    knittingfun Member Posts: 16 Level 3
    edited April 1

    To me it sounds like if it's on itemized deductions it will only count if you itemize. But I don't think 30% of your HVAC is more than the standard deduction? If you enter all the deductions you think you'd take, the software will compare itemizing vs just taking standard. Whatever it recommends you do, it will make sure you come out ahead.

    These are the standard deductions I found on google, so 30% of your HVAC would have to be more than this for it to be a better option.

    Single

    $14,600.

    Married filing jointly

    $29,200.

    Head of household

    $21,900.

  • DaveT
    DaveT Member Posts: 52 Level 5
    edited April 1
    https://community.freetaxusa.com/discussion/2358/heat-pump-hvac-tax-deduction

    Did you navigate using Deductions/Credits → Home Energy Credit and then select "Yes" to "Did you make your home more energy efficient?"

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