Energy Efficient Home Improvement Credit

Forum|Forum|2 years ago
January 28, 2024
2 replies
0 views

I had an Electric Heat Pump installed in 2023 to replace my old kerosene monitor. I entered the expense under Energy Efficient Building Property. My understanding is that I can get up to a 30% credit, but it's only applying $300.00. Is that correct, or has TurboTax just not gotten up to date with the 2023 rulings?

Best answer by DoninGA

The Form 5695 Residential Energy Credits for tax year 2023 has not yet been finalized in TurboTax.

The Form 5695 is scheduled to be available in TurboTax on 02/07/2024 (subject to change).

Go to his TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

DoninGAAnswer

Employee

The Form 5695 Residential Energy Credits for tax year 2023 has not yet been finalized in TurboTax.

The Form 5695 is scheduled to be available in TurboTax on 02/07/2024 (subject to change).

Go to his TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

huskers823

This rule has been updated, don't know when it was finalized, but the IRS has the 2023 rule published, has anyone heard whether or not TurboTax is going to meet today's date (what they list) for getting this straight. I just received my last other form so if not I'll be moving platforms in an aggravated mood that will likely prevent me from coming back to TT (which is a shame because I've used it for years and in general love it).

LeticiaF1

Updates are still being applied to the software. We recommend updating or logging back into your software tomorrow and then proceeding with filing your tax return.

xmasbaby0

Employee

Click Review to see if you are missing some forms needed in order to e-file.

Many federal and state forms are not yet available. Check here for form availability. The dates are subject to change.

Tax form availability tool,

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**