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February 15, 2025
Question

heat pump credit

  • February 15, 2025
  • 1 reply
  • 0 views

in 2024 replaced my home heat pump to heat my home for $10,000 where I was expecting a tax credit of approximately $300 but my tax refund went from $2118 to $5005 is that correct

 

    1 reply

    DoninGA
    Employee
    February 15, 2025

    That sounds like you entered the heat pump in the section for a geothermal heat pump and not in the section for an electric heat pump.  Go back through the home energy credit section and enter the cost of the heat pump in the proper section.

     

    The electric heat pump cost should have been entered on the screen labeled Enter your qualified energy property costs

     

    To enter Home Energy Credits -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Deductions and Credit
    Click on I'll choose what I work on (if shown)
    Under Your Home
    On Home Energy Credits, click the start or update button

     

    Or enter energy improvements in the Search box located in the upper right of the program screen. Click on Jump to energy improvements