- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Exactly what is your question? Form 5695 includes 3 types of credits for 2024.
1. Residential clean energy credit. Covers alternative energy sources (solar, wind, geothermal and fuel cell property. Can be claimed on any home you use as a residence, does not have to be your main residence. Can include cost of insulation.
2. Qualified energy efficiency improvements. This is doors, windows, insulation. Must be installed on your main home (primary residence). Cost of parts only.
3. Residential Energy Property Expenditures. This is efficient air conditioners, heat pump, hot water heater, biomass stove or boiler. Can be installed on a dwelling you use as a residence, does not have to be your main residence. Can include cost of installation.
Because there are 3 credits, there are three different steps or pages in the interview. The first step askes about clean energy, if you don't have this say no. The next step asks about improvements, if you don't have this say no. Then you will be asked about energy property.