Can I claim my new air conditioning / heating unit for an energy credit?
You might qualify for the nonbusiness energy property credit. This is a credit for making qualifying improvements that increase the heating and cooling efficiency of your main home.
These improvements include:
Electric heat pumps
Central air conditioners
Natural gas, propane, or oil water boilers
Natural gas, propane, or oil furnaces
Advanced main air-circulating fan used in a natural gas, propane, or oil furnace
Biomass fuel stoves
You can rely on manufacturer's certification statements to determine if your energy property qualifies for the nonbusiness energy property credit. To learn more about the credit, visit www.energystar.gov.
You must have installed the property in a home you owned and used as your main home at the time of installation. The amount of the credit in 2012 is 10% of the cost. This includes installation and labor costs. You can claim up to a maximum of $500 . Claim the credit on Form 5695.
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This advice is for general information purposes only and may not apply to you. Every tax situation is different. This is not intended to be legal advice. Taxpayers should consult an H&R Block Tax Professional regarding their individual tax situation.