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For the federal stimulus tax credit, can we deduct 30% of everything involved with a ground source geo-thermal system in a new home?

April 26, 2017deduct Federal ground involved source stimulus system tax credit

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For the federal stimulus tax credit, can we deduct 30% of everything involved with a ground source geo-thermal system in a new home?

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Tax credits for energy efficiency improvements and renewable energy systems were recently extended through federal legislation. According to the IRS, a taxpayer can claim a 30% credit for “qualified expenditures” related to installation of a ground source heat pump. This includes “labor costs for onsite preparation, assembly or original system installation, and for piping or wiring to interconnect a system to the home.” There is no maximum credit for systems placed in service after 2008. The pump must meet federal Energy Star requirements and be placed in service by December 31, 2016. For more information, visit the Database of Incentives for Renewables & Efficiency website.