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The credit amount for each type of property has a different dollar limit.
High efficiency gas furnace tax credit 2017. The other part of the credit is not a percentage of the cost. The maximum credit for a furnace or boiler is 150. 150 for any qualified natural gas propane or oil furnace or hot water boiler. The non business energy property tax credits have been retroactively extended from 12 31 2017 through 12 31 2020.
A nonrefundable tax credit allows taxpayers to lower their tax liability to zero but not below zero. 10 of cost up to 500 or a specific amount from 50 300. Up to 10 of the cost to 500 or a specific amount from 50 to 300. This credit has a maximum lifetime limit of 500.
150 maximum credit available for qualifying furnaces and boilers. The maximum tax credit for a furnace circulating fan is 50. A maximum of 200 can be for windows. 300 maximum credit available for qualifying central air conditioners heat pumps packaged units and ductless mini split systems.
The maximum credit for any other single residential energy property cost is 300. The residential energy property credit is nonrefundable.
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