CPA?

Geo-TH,In · Feb 5, 2016

Is there still an energy tax credit for installing the following?
High efficiency Heat pumps, furnaces?
Up grading insulation in homes?
Installing new windows and doors?
Metal roofs?
Are there any other energy tax credits?

Dave H (MI) · Feb 5, 2016

Take a look at Form 5695. All of the items you listed are still there. You take a shotgun approach to the question. Did you do all those things in 2015? Email is open for specific questions...no charge. Beats airing your laundry on the forum.

Dave H (MI) CPA

Geo-TH,In · Feb 5, 2016

Dave H (MI), Thanks for your reply. Now I'm going to ask what's the difference in getting an energy tax credit vs getting a residential RENEWABLE ENERGY TAX CREDIT which some on YT are dead seat against? Aren't tax credits an incentive for people to do things that saves energy or makes energy?

So what's the difference?

Dave H (MI) · Feb 5, 2016

A tax credit is a credit. A direct write off from tax. Not a deduction. The renewable energy credit that I know of is based on solar, wind, etc. Credits are very desirable things to come up with on a tax return for obvious reasons. I think if you have met resistance from the YT community on this topic is due to the fact that many (have to say I fall into this group) feel that these energy sources can be a waste of time and money. Here in Michigan we have a mandate for the electric utilities to come up with alternate sources to fossil fuels. So we are seeing a lot of windmills and a few solar farms. From what my clients in the industry tell me, those solar farms are a bust here in Michigan...but still they are there. You should find your credit for renewable energy on the same form mentioned before, Part I if I remember correctly.

CPA?

Geo-TH,In

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Dave H (MI)

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Geo-TH,In

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Dave H (MI)

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