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January 20, 2024
Question

Where do I enter the cost of upgrading my electrical panel?

  • January 20, 2024
  • 1 reply
  • 0 views

According to various sources I've seen about the Inflation Reduction Act, electrical panel upgrades to accommodate new energy-efficient appliances are supposed to receive a tax rebate of up to 30%. I upgraded my electrical panel last year so that I could switch from a gas range to an induction range. In the TurboTax Deluxe desktop version, I cannot find anywhere in the deductions section to enter the amount I spent on electrical work.

    1 reply

    DoninGA
    Employee
    January 20, 2024

    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 01/31/2024 (subject to change).

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