Is there any tax credit for buying a new energy efficient appliance in 2016 on the Form 1040 for taxpayers?
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That must be the MOST FREQUENTLY asked question from my clients!
The short answer is no for kitchen appliances on the 1040 form. In certain states there may be a state rebate for certain models. We have one in our state but it does not go on any tax form.
If you are talking about Non residential energy credits (insulation, doors, windows, central AC Heat etc.) yes but check the pubs.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
Washing Machine
Would there be any credit for an energy efficient washing machine?Comment
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Read Pub 17 Credits sectionBelieve nothing you have not personally researched and verified.Comment
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No federal credit
This question does occur a LOT!
To the best of my knowledge, there has NEVER been a federal energy credit for appliances.
I think some states had such, but not sure if it was a state income tax issue or a state rebate issue.
Anyway. . .not gonna happen for a federal tax credit regardless of what the salesman in Home Depot suggests. . .
FEComment
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I think the confusion comes about because there is a Federal tax credit for energy efficient appliances, if a taxpayer manufactures them.
As FEDUKE404 said, I don't think there has ever been a Federal tax credit for individuals that purchase an energy efficient appliance (except for things on Form 5695, such as heating, air conditioning, etc.).Comment
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