Home Ownership

• The federal tax credit established in 2011, as well as its predecessor, only allows a tax credit for air-conditioning systems installed in homes. Air conditioners installed in commercial buildings do not qualify for the tax credit. In addition, taxpayers can claim the credit only for their primary residences and only for homes they own. You cannot claim the credit for rental property, and the renter also cannot claim the credit. You also cannot claim the credit if you own multiple private homes and the home in question is not your primary residence. Your primary residence is determined by the home in which you reside for the longest period of time during the tax year.