Nonbusiness Energy Property Credit
What is Nonbusiness Energy Property Credit?
You may be able to take a energy credit equal to the sum of:
- 10% of the amount paid in the tax year for qualified energy efficiency improvements installed during the tax year and
- any residential energy property costs paid in the tax year
What are the limits for claiming the nonbusiness energy property credit?
This nonbusiness energy property credit is limited as follows:
- a total accumulated credit limit of $500 for all tax years
- an accumulated credit limit of $200 for windows for all tax years
- a credit limit for residential energy property costs for all tax years of:
- $50 for any advanced main air circulating fan
- $150 for any qualified natural gas, propane, or oil furnace or hot water boiler
- $300 for any item of energy efficient building property