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Residential Energy cost worksheet (Form 5695) is not using the correct number
When entering the cost of a qualifying heat pump, the Turbo tax worksheet is using the incorrect maximum amount allowed for a Joint Occupant. For some reason the software is limiting the maximum allowable amount to $1,667 when the "Help" information sheet indicates the amount should be $6,667. The software is only giving me a $250 ($500 for both occupants) instead of the allowable $1,000 tax credit ($2,000 for both occupants combined), The only way I can get the correct tax credit is to over ride the limitation with the correct limit within the worksheets when viewed in the forms menu for form 5695.
‎February 26, 2024
3:46 PM