Taxes! So the way IRS Form 5695 is written, you can only claim a tax credit up to $300 for the sum of costs of a high efficiency gas water heater AND/OR a high-efficiency 16 SEER AC system. I bought both in 2013 (total cost over $2200), I lose part of the credit. Bummer. Line 22a... • A central air conditioner that achieves the highest efficiency tier that has been established by the CEE as in effect on January 1, 2009. • A natural gas, propane, or oil water heater that has an energy factor of at least 0.82 or a thermal efficiency of at least 90%. Do not enter more than $300 on line 22a. But! I get an additional $150 credit for the high efficiency gas furnace. Line 22b. Enter the amounts you paid for a natural gas, propane, or oil furnace or hot water boiler that achieves an annual fuel utilization rate of at least 95. Do not enter more than $150 on line 22b. Well, all I can say is that since May, Ive saved an average of $70 a month in utility expenses over comparable-temperature months. That means my new furnace, AC and water heater will pay for themselves in energy costs in about 5.5 years.
Posted on: Sat, 01 Feb 2014 04:57:50 +0000
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