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Tax deduction for new air conditioning/heating unit?
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dreamworld06
LIF Adult

Member since 2/07 1341 total posts
Name: Heather
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Tax deduction for new air conditioning/heating unit?
How do I find out if the new air conditioning/heating unit we installed last year is tax deductible?
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Posted 4/3/18 2:38 PM |
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Eunyboo
<3

Member since 7/12 4376 total posts
Name: E
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Re: Tax deduction for new air conditioning/heating unit?
You mean the sales tax? A new air conditioner is not on the IRS list of "major purchases" for the sales tax deduction.. but I would probably keep track of how much you paid for tax benefits that can occur when you sell the house.
Or do you mean its energy efficient? If thats what you mean, it goes on Form 5695. The IRS specifies which items can apply for this credit - look here to see if yours does. Typically if you got it installed, the contractor would know.
https://www.irs.gov/pub/irs-pdf/i5695.pdf
ETA - some qualifications are below
-An electric heat pump water heater that yields an energy factor of at least 2.0 in the standard Department of Energy test procedure.
-An electric heat pump that achieves the highest efficiency tier established by the Consortium for Energy Efficiency (CEE) as in effect on January 1, 2009.
-A central air conditioner that achieves the highest efficiency tier that has been established by the CEE as in effect on January 1, 2009.
-A natural gas, propane, or oil water heater that has an energy factor of at least 0.82 or a thermal efficiency of at least 90%.
-A stove that uses the burning of biomass fuel to heat your home or heat water for your home that has a thermal efficiency rating of at least 75%. Biomass fuel is any plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (inc
Message edited 4/3/2018 4:33:10 PM.
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Posted 4/3/18 4:31 PM |
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