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Submitted By: someone
Answered: February 5, 2023 8:32 pm
Answered: February 5, 2023 8:32 pm
Does installing ceiling fans in my home qualify for the energy efficient home improvement credit?
No. Only an advanced main air circulating fan can qualify. This is an efficient fan, or blower motor which blows the air that your furnace heats up through the duct system. The fan must use no more than 2% of your furnace’s total energy and the credit is limited to $50. The U.S. Department of Energy has a list of items eligible for the credit. Be sure to note that there are different rules for 2022 versus 2023 and beyond.
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Tax Glossary
Private letter ruling
A written determination issued to a taxpayer by the IRS that interprets and applies the tax laws to the taxpayer’s specific set of facts. A letter ruling advises the taxpayer regarding the tax treatment that can be expected from the IRS in the circumstances specified by the ruling. It may not be used or cited as precedent by another taxpayer.
