Taxpayer (Sole Proprietor) rents out commercial property and installed an energy efficient heat pump. Which form is used to calculate energy credit?
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A Geothermal heat pump credit would be on Form 3468. However, if it is an electric air heat pump, I'm not aware of any credit for commercial use.
Even if there is not a credit, it MIGHT qualify for a special deduction under ?179D and Form 7205, so you'll want to look into that. But it is complicated and they may not qualify.
https://www.irs.gov/credits-deductio...ings-deduction
https://www.irs.gov/forms-pubs/about-form-7205
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