Take a look at some of the benefits you can reap as a ductless heat pump consumer.
Montana Energy Conservation Installation Credit
IMPORTANT NOTICE: This credit has been repealed for Tax Year 2022. Tax Year 2021 is the last year this credit is available.
The Department of Revenue encourages citizens to weatherize their homes and take advantage of the Energy Conservation Installation Credit when individual income tax returns are filed.
Montana State Tax Credits:
The credit is applied against a taxpayer’s income tax liability. Montana resident individuals can claim the credit for energy conservation investments made to a home or other building. The credit is equal to 25% of expenses, up to a maximum credit of $500. Two or more people may each qualify for the credit, as long as the building in which the investment is made is owned by all of the people claiming the credit. For example, a married couple who jointly own their home may each claim a credit up to $500 each or $1,000 for the couple.
Federal Tax Credits:
IMPORTANT NOTICE: As of January 5, 2022, there is no approved extension of these tax credits. Any extension/ renewal of these credits is still pending approved legislation by Congress.
2021 Residential Federal Tax Credit Form – Downloadable and Printable (pdf)
2020 Residential Tax Credit Instructions – Downloadable and Printable (pdf)
1040-X Amendment Form – Download and Printable (pdf)
Non-business property tax credits for energy efficient equipment has been retroactively extended from 12/31/2017 through 12/31/2021 for Energy Star certified residential equipment. Click link for more information:
Tax Credit: 10% of cost up to $500 or a specific amount from $50-$300.
Expires: December 31, 2021
Details: Must be an existing home & your principal residence. New construction and rentals do not apply.
- Air Source Heat Pumps
- Central Air Conditioning (CAC)
- Gas, Propane, and Oil Hot Water Boiler
- Gas, Propane, and Oil Furnaces and Fans
- Water Heaters (non-solar)
*Federal and State tax credits are subject to interpretation. Customer should consult with an accountant or tax professional.