Tax Credits Available For Qualifying HVAC
Tax season is here, and if you have replaced your heating and/or cooling system in the past few years, you may have an extra credit that you can qualify for when filing for your taxes this year.
Tax credits for residential energy efficiency have been extended retroactively from 12/21/2017 through 12/31/2021. This means that if you purchased a high-efficiency furnace, air conditioner, heat pump, or thermostat, you may be eligible to receive the credit. You may also take advantage of these tax credits if you are looking to replace your HVAC system futuristically this year!
HVAC Tax Credit Details Include:
- Credit Amount: 10% of the cost up to $500 or a specific amount from $50-$300.
- Expires: December 31, 2021
- Residence Details: Must be an existing home and your principal residence. New construction & rentals do not apply.
- NOTE: To verify tax credit eligibility, contractors must provide a Manufacturer Certification Statement.
*Disclaimer: The tax credit information contained within this overview is provided for informational purposes only and is not intended to substitute for expert advice from a professional tax/financial planner or the Internal Revenue Service (IRS).
Let our team know if we can help with the replacement of your heating and cooling system so that you can take advantage of these limited-time incentives!