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I'm building a new home and I plan to install a geothermal air conditioner. Is this appliance eligible for any tax breaks?


The BIDaWIZ Team's Answer:

Yes, new construction qualifies for the tax credit up to 30% of the cost. Please note that if "placed in service" in 2014, you need to file the 2014 version of IRS Form 5695 and submit it with your 2014 taxes (by April 15, 2015). On the 1040 form, enter the tax credit from Form 5695 on line 52. Also, save your receipts and the Manufacturer's Certification Statement for your records.

The BIDaWIZ Team



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