Hello! I am reviewing my pdf return before e-filing, and I think there may be an error on Form 5695. In the TurboTax interview software, I entered nearly $8000 for cost of a new biomass stove and its installation in 2023 for my primary residence. However, the Form 5695 generated by TurboTax has a cost of $1667 on Form 5695 line 29c, resulting in a credit of $500, or 30% of the value on line 29c. Since the true cost was nearly $8000 with a 30% value of greater than the maximum credit of $2000 for 2023, I expected to see a credit of $2000 rather than $500.
Might TurboTax be capping the credit to the 2022 lifetime limit of $500 rather than the 2023 annual limit of $2000? Has anyone else experienced this issue? For any TurboTax agents in this forum, I have gone through the 'Share my Return with an Agent' Tool and have a token number 1198396.
Thanks in advance!
