Skip to main content
January 24, 2025
Question

During 2024 I paid $ 2,900 for a heat pump water heater, which should receive a 30%, or $ 870 tax credit, but Turbotax is only showing a $ 328 credit - why?

  • January 24, 2025
  • 1 reply
  • 0 views
No text available

    1 reply

    January 24, 2025

    The credit is up to $2,000 per year for qualified heat pumps, water heaters, biomass stoves or biomass boilers. However, the credit is nonrefundable, so the credit amount you receive can't exceed the amount you owe in tax.

    Energy Efficient Home Improvement Credit

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"