dave11
New Member

When will form 5695 be available?

 

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IRS Form 5695, Residential Energy Credits is estimated to be available on 01/29/19

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

ajsjk
New Member

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it doesn't look like turbo tax has updated 5695. i am eligible for credit but won't let me take it. when i look at the form it refers to lines on 1040 that no longer exist. when will it be available on TT? thanks  (just did system update)

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The Nonbusiness Energy Property Credit which includes insulation, energy-efficient exterior windows and doors, and certain roofs plus high-efficiency heating and air-conditioning systems, high-efficiency water heaters and stoves that burn biomass fuel expired at the end of 2017.
As of this date the Congress has not renewed the credit for tax year 2018.

TurboTax has left the credit on the Form 5695 when viewed using Forms mode in case Congress approves the credit for 2018.  The actual Form 5695 sent to the IRS when the tax return is filed will be the IRS approved 5695 for tax year 2018 - <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-pdf/f5695.pdf">https://www.irs.gov/pub/irs-pdf/f5695.pdf</a>

The Residential Energy Efficient Property Credit which includes includes solar hot water heaters, solar electric equipment, wind turbines and fuel cell property is available for tax year 2018.  Form 5695 is used for this credit.

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If the Non business Energy Property Credit expired in 2017, why would TT not say that? Why did I have to come here for the answer and waste time?
tammyq2
New Member

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Geothermal is still eligible.  I am trying to enter a carry over and it only provides the option to choose 2012 through 2016

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I have a tax credit of over $9000 that was carried over on form 5695 for two years and again it is being carried over. when and how can I get this credit ?

MayaD
Expert Alumni

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If you used TurboTax last year, the credit will carry over automatically to your 2019 return.

Residential Energy Credit is a non refundable credit, it will reduce you tax liability (tax due ) to 0 but it won't increase your refund.

Any unused amount will carry forward to future years.

If you didn't use TurboTax last year, follow the step to add the credit :

  1. Log in to your account.
  2. Go to Federal Taxes.
  3. Go to Deductions and Credits.
  4. Scroll down to your home and click show more.
  5. Go to Home Energy Credits.

 

 

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i know this post is from June 2019, but i still have the same question... when will this form be available for 2019 filing? 

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@hellafreckles wrote:

i know this post is from June 2019, but i still have the same question... when will this form be available for 2019 filing? 


The 2019 Form 5695 is available.

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Screen Shot 2020-03-11 at 8.57.37 PM.png

 

I am getting this - DO NOT FILE.

However, I my turbo tax says it's up to date (and that form says 2019 on it)

LinaJ2020
Expert Alumni

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If you are using the TurboTax CD/Download software program, open the program, from the top, under Online, select Check for Updates.

 

@6aajhoepa2lg

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mjgormley
New Member

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Same question, but this time for tax year 2021....

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@mjgormley wrote:

Same question, but this time for tax year 2021....


Form 5695, Residential Energy Credits for tax year 2021 is estimated to be finalized in the TurboTax program on 01/27/2022