Question

TurboTax Calculation Error in Home Energy Credit turboTax Deluxe for Mac 2022

Forum|Forum|3 years ago
November 26, 2022
1 reply
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The Residential Energy Credits form 5695 line 6b is calculated wrong.

The description correctly says, "Multiply line 6a by 30% (0.30). However, the calculated value uses the old credit percentage of 26%. This results in a 4% error in the calculated tax credit.

DoninGA

Employee

The IRS Form 5695, Residential Energy Credits for tax year 2022 has not been finalized until the IRS releases the form 5695 for 2022.

Form 5695 is estimated to be finalized and available for filing on 02/09/2023

Go to this TurboTax website for IRS forms availability - https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_mac_individual.html

S

shannemanAuthor

Thank you, To be clear, the form displayed says the calculation would be for 30% (correct in the new tax law). What is wrong is the TurboTax coding to calculate that box (it still uses 26%). I will wait for your software update.

Thanks again for the reply.