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Thread: FYI if you looking at any energy upgrades to your home

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  1. #1
    Join Date
    Jan 2004
    Anderson, SC

    Default FYI if you looking at any energy upgrades to your home

    Day 1 of my tax seminars today

    One thing I will give free advice on is if you are needing to upgrade HVAC, water heater , replacement windows doors, etc I would wait until 2023 to do these

    A farily decent energy credit is back for 2023 so if you needing new HVAC or anything that falls in this category I would put it off at least a month

    Here is list of the broad strokes of the change

    • The lifetime maximum of $500 is replaced with an annual limit of $1,200 with the
    following limits:
    ◦ Energy property (insulation, water heaters, etc.) : $600 per unit
    ◦ Windows and skylights: $600 in aggregate
    ◦ Exterior Doors
    ▪ One door: $250
    ▪ All exterior doors combined: $500
    • Heat pump and heat pump water heaters, biomass stoves and boilers
    ◦ $2,000 annual limit
    ▪ 75% efficiency required if placed into service after Dec. 31, 2022, and before
    Jan. 1, 2027
    ▪ 90% efficiency if placed into service after Dec. 31, 2026
    • Improving or replacing an electric panel
    ◦ Load capacity of at least 200 amps
    ◦ Installed in connection with other energy improvements
    Last edited by tprice; 12-06-2022 at 08:35 PM.


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