hgtc
Level 5
‎04-05-2022 05:04 PM

taxpayer purchased tankless water heater for $800 in 2021.  how much is his tax credit?

In sec 38.2 - nonbusiness energy property credit (form 5695), which line do I enter?  "energy-efficient building property" or "qualified furnace or hot water boiler"?

Thanks.

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PhoebeRoberts
Level 11
Level 11
‎04-05-2022 05:14 PM

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

hgtc
Level 5
‎04-05-2022 05:43 PM

Thanks for the link.  Somehow, I could not find tankless water heater under "non-solar water heater"?  

Should I enter the $800 cost under "energy efficient building property" section so that will get $300 tax credit?

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sjrcpa
Level 15
‎04-05-2022 06:50 PM

EDIT: Did you read what it says at the top of that page? Looks like I can't read when I'm tired.


The more I know the more I don’t know.
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qbteachmt
Level 15
‎04-06-2022 01:16 PM

If the water heater is for Hot Water, it's an Appliance. Not a Furnace System (boiler) water heater. Electrical tankless Appliances don't qualify. Oil, Gas, Propane, Heat Pump. The manufacturer should be providing a certificate, if this qualifies.

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