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March 23, 2023
Question

Should i amend 2022 return for energy tax credit i forgot to enter

  • March 23, 2023
  • 1 reply
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purchased tankless water heater but didnt realize i could use it for energy credit

1 reply

March 23, 2023

Through December 31, 2022, the energy efficient home improvement credit is a $500 lifetime credit.

Energy tax credits aren’t refundable tax credits. This means that you can reduce your total tax to zero but, you can’t get any excess credit amount as a payment to you on your tax return if you have more energy credit than your total tax. Any unused energy tax credit claimed on your tax return can roll forward to future years and offset tax liability in those years.

 

To amend your return to claim the credit:

  • On the home screen, scroll down to Your tax returns & documents and select 2022.
  • Select Amend (change) return, then Amend using TurboTax Online.
  • On the screen OK, let's get a kickstart on your amended return, select the reason(s) you're amending and Continue.
  • When you reach Here's the info for your amended federal return, select the topic you need to change. 
  • Continue through the screens and carefully answer the remaining questions to finish amending your return

 

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