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Energy Credits - Please confirm that energy tax credits have…

Energy Credits -Please confirm that...
Energy Credits -Please confirm that energy tax credits have expired at end of 2016. Are there any credits for residential HVAC for 2017 tax year?Thanks,
JW
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Answered in 11 minutes by:
10/11/2017
Tax.appeal.168
Tax.appeal.168, Tax Accountant
Category: Tax
Satisfied Customers: 4,637
Experience: 3+ decades of varied tax industry exp. Tax Biz owner
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Hello. Thank you for choosing this Q&A service for assistance. My name is Angela. I will be assisting you.

That is correct, the energy tax credit did expire Dec. 31, 2016. SEE BELOW:

------------------------------

Tax Credit: 30% of cost with no upper limit
Expires: December 31, 2016
* (Tax credits for Solar Energy Systems are available at 30% through December 31, 2019.
The credit decreases to 26% for tax year 2020; drops to 22% for tax year 2021 then expires December 31, 2021)

REFERENCE SOURCE:

https://www.energystar.gov/about/2016_federal_tax_credits

Residential HVAC for 2017: If the HVAC is solar powered, yes. SEE BELOW:

-----------------------------------

The tax credits listed below are available for purchases made in 2017. All other ENERGY STAR federal tax credits expired at the end of 2016. ENERGY STAR products eligible for tax credits are independently certified to save energy, save money and protect the environment. Use up to 30% less energy in your home by outfitting it with ENERGY STAR products available across more than 70 categories. *

2017 Federal Tax Credits

Tax Credit: 30% of cost with no upper limit
Expires: December 31, 2021
Tax credits for Solar Energy Systems are available at 30% through December 31, 2019.
The credit decreases to 26% for tax year 2020; drops to 22% for tax year 2021 then expires December 31, 2021)

Details: Existing homes and new construction qualify. Both principal residences and second homes qualify. Rentals do not qualify.

REFERENCE SOURCE:

https://www.energystar.gov/about/federal_tax_credits

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