I have been trying desperately to file our taxes but due to the form 5695, we cannot. We purchased new windows in 2023 and split the cost between both us, we are not married. I keep getting this:
"We're updating how joint occupancy costs are reported on the tax return based on new tax law changes from IRS. Please check back soon."
I think I can go to file federal only, regardless of this message. I also believe that each of us only receive a $300 credit for the windows since you can not enter an amount larger than $600. That's all fine and dandy but I'd like to be sure I am doing this correctly and I won't get bit in the butt later. I filled out the worksheet and it did not help me. It was windows and the form stops for those and does not proceed to anything? It's a Home Improvement, not Property. Can anyone help me?
2023 Instructions for form 5695 - IRS - It also states this is a DRAFT January 26, 2024
Joint occupancy. If you owned your home jointly with someone
other than your spouse, each owner must complete their own Form
5695. To figure the credit, enter the amounts you paid for these items
on the appropriate lines of Form 5695, Part II. The amount allocable
to you is the smaller of:
1. The amount you paid, or
2. The qualifying credit of the property multiplied by a fraction.
The numerator is the amount you paid and the denominator is the
total amount paid by you and all other owners.
The credit limit for each property is as follows.
