Energy Efficient Central Air Conditioner Tax Credit

Heating ventilating air conditioning hvac as much as half of the energy used in your home goes to heating and cooling.

Energy efficient central air conditioner tax credit. Air conditioners recognized as energy star most efficient meet the requirements for this tax credit. The other part of the credit is not a percentage of the cost. Advanced main air circulating fan. The renewable energy tax credits are good through 2019 and then are reduced each year through the end of 2021.

Through the 2020 tax year the federal government offers the nonbusiness energy property credit. Taxpayers who upgrade their homes to make use of renewable energy may be eligible for a tax credit to offset some of the costs. Click the screenshot below for reference to enter your energy efficient property in turbotax. So making smart decisions about your home s heating ventilating and air conditioning hvac system can have a big effect on your utility bills and your comfort.

Claim the credits by filing form 5695 with your tax return. To verify tax credit eligibility ask your hvac contractor to provide the manufacturer certification statement for the equipment you plan to purchase. Qualifying air conditioning systems having the opportunity to claim a tax credit on your taxes when you install a qualifying air conditioning system is a great way to reduce the cost of this large investment. Do not include the cost to install these items.

The criteria for qualifying for that tax credit is that the system must meet certain energy efficiency guidelines.