Question

Fan I e-file an amended return?

Forum|Forum|6 years ago
January 27, 2020
1 reply
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I qualify for a Federal Residential Energy Tax Credit but Turbotax has not completed the IRS Form 5695 as of yet. I filed my return to at least receive my State Income tax return which amounts to several hundred dollars. I have request that Turbotax send me the Form 5695 whenever it becomes available. Will I be able to amend and refile my return with the updated information? My credit amounts to $350 which I would like to receive this year if possible. Please RSVP!

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TomK2023

If you can wait, that may be a better option then filing an amended tax return (1040-X). The tentative date for Form 5695 (Residential Energy Credits) is 1/29/2020.

A tax credit is a dollar-for-dollar reduction of the income tax you owe. For example, if you owe $1,000 in federal taxes but are eligible for a $1,000 tax credit, your net liability drops to zero.

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