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Where can I enter $600 tax credits for a Gas Water Heater purchased in 2023? In TurboTax, it appears to be using the 2022 credit of $300.
Form 5695 line 24a and b state:
a. Enter the cost of natural gas, propane, or oil furnace or hot water boilers
b. Multiply line 24a by 30% (0.30). Enter the results. Do not enter more than $600
TurboTax is capping the credit at $300.
a. Enter the cost of natural gas, propane, or oil furnace or hot water boilers
b. Multiply line 24a by 30% (0.30). Enter the results. Do not enter more than $600
TurboTax is capping the credit at $300.
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‎January 19, 2024
3:40 PM