Though we're more than a month into 2014, there are some 2013 tax credits you may still be qualified to take on your taxes when you start preparing for last year.
If you replaced a furnace, air conditioning unit, or water heater, you may be eligible to get tax credits on your 2013 taxes you'll be filing before April 15th.
2013 was the last year you could claim these energy efficiency saving deductions, but they are a way to get up to 500 dollars back from the government.
Here are the things you need to know to get tax credits if you replaced a furnace, heat pump, air conditioning unit, or a water heater in 2013.
Taxpayers who purchased qualified residential energy-efficient property may be eligible for tax credits.
The credit is equal to the full cost of the equipment up to the following caps:
- Advanced main air circulating fan: $50
- Natural gas, propane, or oil furnace or hot water boiler with an annual fuel utilization rate of 95 or greater: $150
- Electric heat pump water heater with an energy factor of at least 2.0: $300
- Electric heat pump which achieves the highest efficiency tier established by the Consortium for Energy Efficiency: $300
- Central air conditioner which achieves the highest efficiency tier established by the Consortium for Energy Efficiency: $300
- Natural gas, propane, or oil water heater which has either an energy factor of at least 0.82 or a thermal efficiency of at least 90 percent: $300
- Biomass stoves that use "plant-derived fuel available on a renewable or recurring basis, including agricultural crops and trees, wood and wood waste and residues (including wood pellets), plants (including aquatic plants), grasses, residues, and fibers": $300
Get more information on Taxes by clicking the Taxes link to your right under Vero Beach Real Estate Categories.