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Level 1
November 28, 2023
Question

Non Geothermal Heat Pump tax credit entry?

  • November 28, 2023
  • 2 replies
  • 22 views

Nothing listed on IRS Form 5625 other than geothermal heat pump

Should be 30% credit up to $2000 for 2023

This topic has been closed for replies.

2 replies

Camp1040
Level 10
November 28, 2023

Wait for the update. Yes Heat pumps are eligible up to 30% of cost up to $2000, $600 credit.

IRonMaN
Level 15
November 28, 2023

Yeah, it's only November.  In November, the software isn't anymore sophisticated than playing a game of Pong on your computer.  It won't be until the middle of January before it is almost safe to use the software.

Oh crap, I wonder if I am allowed to compare the software to Pong or if I am going to get another e-mail saying that I am going to be locked up for crimes against humanity.

Slava Ukraini!
Jim-from-Ohio
Intuit Community Champion
November 28, 2023

pong was a good game.. if you positioned each of the paddles on their respective sides to line up with each other the game would go on indefinetly without have to touch either paddle. 

BobKamman
Level 15
November 29, 2023

People really get a tax credit for buying heat pumps?  That's mostly what we use here on the desert.  I'll have to read up on it.  Not too long ago I had to explain to my friend in Chicago, how heat pumps work.  But then, I lived in the Midwest for seven years and never understood about furnaces.   Do you add the oil to the coal, or vice versa?  

IRonMaN
Level 15
November 29, 2023

When I was growing up we had a coal furnace.  At night my dad would stoke that baby up to the point that I thought he was going to burn the house down.  Of course, coal doesn't fit into a nice little underground line so that it gets to your house without interruption.  Every so often the coal guys would come with their truck and dump another load of coal down into the coal bin down the basement.  That wouldn't be a bad deal in the summertime, but deliveries in the middle of winter meant you had to shovel (did snowblowers exist back then???) a path wide enough to fit a dump truck through so that they could back up to the house.  Geez, I'm starting to feel old when I tell the "when I was a kid" stories.  At least I don't have any stories about walking 5 miles to school --------- up hill, both ways 😁

Slava Ukraini!