Understanding the HVAC Tax Credit in 2022As a homeowner, you may be wondering if your HVAC system is tax-deductible. The good news is, you may be eligible to receive a tax credit for eligible home improvements you make in 2022. This tax credit can help reduce the costs of your HVAC system, making it a worthwhile investment for your home. The HVAC tax credit is a portion of the expense for the equipment, which includes items like insulation for your home, exterior doors, electric heat pumps, and central air conditioning systems. It’s important to note that the tax credit is only available for eligible improvements made in the current tax year.
Eligible Home Improvements for Tax DeductiblesUnder the HVAC tax credit, there are several home improvements that may be eligible for tax deductibles. These improvements include:
- Insulation materials and systems that reduce heat loss or gain
- Exterior windows that are ENERGY STAR certified
- Exterior doors that meet the ENERGY STAR qualifications for the region
- Electric heat pumps that meet the ENERGY STAR qualifications
- Central air conditioning systems with a SEER rating of at least 16 (or an EER of at least 13)