I made 43k in home improvements 2017 how much of a tax break would I get since turbotax missed that section for me im pissed. Can I claim next year so i dontpay forammend

[SweetieJean]

On a rental property?

[dbvolcom]

It is my residence, am I not able to claim them on form 5695? I have new gutters, energy star hvac, roof, and windows?

[DoninGA · Accepted solution]

See this website for eligible 2017 Non-business Energy Property Tax Credits - https://www.energystar.gov/about/federal_tax_credits/2017_non_business_energy_property_tax_credits

If you have eligible Non-business Energy Property installed on your personal residence in 2017 then follow these procedures to report the credit -

To enter Home Energy Credits -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Deductions and Credit
• Click on I'll choose what I work on (if shown)
• Under Your Home
• On Home Energy Credits, click the start or update button

Or enter home energy improvement in the Search box located in the upper right of the program screen.  Click on Jump to home energy improvement

On the screen Tell Us How Much You Paid for Energy-Saving Improvements -

For HVAC, electric heat pump water heater, natural gas, propane, or oil water heater, and a stove that burns biomass fuel to heat your home or heat water.  Enter the cost in the box labeled Energy-Efficient Building Property.

[dbvolcom]

Thank you I already submitted my return couple days ago, would I be able to claim them on next years return? I do not want to pay for an amendment if possible.

[DoninGA]

Since the items were installed and purchased in 2017 they have to be reported on the 2017 tax return.  Additionally, the Non-business Energy Property Tax Credits were only extended for tax year 2017.  There is a very good possibility that they will Not be extended again for tax year 2018.

[dbvolcom]

Darn it! how much is it to file an amendment?

[DoninGA]

There is no charge to file an amendment using TurboTax unless for some reason you would need to upgrade from your current edition.  But your post indicates you are using the Premier online edition so you can amend your return to add the Home Energy credits with no need to upgrade.
An amended tax return can only be printed, signed, dated and mailed by you to the IRS.  The IRS will take from 3 to 4 months to process the amended return.
Before amending the 2017 return wait for the tax refund to be sent or if taxes owed and paid for the IRS to process the payment.
See this TurboTax support FAQ for amending a 2017 tax return completed using the online additions - <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4252204">https://ttlc.intuit.com/questions/4252204</a>

[dbvolcom]

Niceeee thanks for the good news my friend I almost lost faith in turbotax but I will continue to use it most likely. Have a great day!

[DoninGA]

Improvements to a personal residence, not used as a rental or in a business, are not reported on a tax return.  The cost of the improvements to the residence are added to the basis of the home when it is sold.

[dbvolcom]

It is my residence, am I not able to claim them on form 5695? I have new gutters, energy star hvac, roof, and windows?