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Hello, Turbo tax is calculating 10% max tax credit on energy improvements. The limit is 30% with a maximum of $1,200. Per 2023 IRS publications 5695.
Turbo tax is stating there is a maximum of 10% with a cap of $500. That is from 2022 and before.
Publication links:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/claim-energy-effi...
https://www.energystar.gov/about/federal_tax_credits/insulation
https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
Publication links:
https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/claim-energy-effi...
https://www.energystar.gov/about/federal_tax_credits/insulation
https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
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‎January 13, 2024
4:58 AM