With all the issues related to 2023 Form 5695 that have been corrected with my update today @ 8:15 am mst.
However, this prompted me to go back to tax year 2022, Form 5695, and review the calculations. Line 30 Credit line, the amount credited was $45.
IRS.gov: Qualified components include new: Exterior doors that meet applicable Energy Star requirements. Credit is limited to $250 per door and $500 total. Exterior windows and skylights that meet Energy Star Most Efficient certification requirements.
- I installed (2) two energy efficient patio doors @ $7,772.50 total cost $15,545.
According the IRS, my credit at most would be $500 - 2 doors. Not $45.
1. Is the 2022 Turbo Tax form 5695 calculating incorrectly?
2. Do I need to AMEND my 2022 tax return?
Appreciate any insight you might have on this matter.
