Is anyone else having problems with the Energy-Savings Improvements (specifically for insulation) calculating under 2022 laws 10% and not Inflation Act 30%?

[huskers823]

$4,000+ in insulation is capping out at $400+ (10%) credit instead of full $1,200 (30% to cap) credit

[DoninGA]

The IRS Form 5695 Residential Energy Credits for tax year 2023 has not yet been finalized in TurboTax.

The form is currently scheduled to be finalized and available in TurboTax on 01/17/2024 (subject to change)

Go to this TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

[xmasbaby0]

The energy forms are  not yet ready.

Many federal and state forms are not yet available.  Check here for form availability. The dates are subject to change.

Tax form availability tool,

No hurry to e-file since the IRS will not begin to accept/reject 2023 e-files until January 29.

[huskers823]

Acknowledged that the date was pushed (I appreciate the link you provided), but why is TurboTax so far behind the other softwares in getting this fixed?  I don't really want to have to switch and transfer my data, but others have this form properly loaded and accounted for and given a refund I don't want to push past the date the IRS will start accepting returns (Intuit now lists this form availability as 1/31/2024)...may not have the answer but I figured it was worth asking.

[DoninGA]

@huskers823 If the other tax preparation companies have Residential Energy Credit Form 5695 finalized, then they have not waited for the IRS to finalize the instructions for the Form 5695.

The IRS instructions for the 5695 are still for tax year 2022 - https://www.irs.gov/pub/irs-pdf/i5695.pdf

[xerandin]

Hey look, the form was ready a long time ago and the instructions were also updated, but Turbotax still hasn't fixed the Joint Occupancy logic so I still can't file. Any idea why?

"We're updating how joint occupancy costs are reported on the tax return based on new tax law changes from IRS. Please check back with us soon."

The form was ready in January and the instructions were also updated by the time I initially checked on 1/31. This corrupt PoS company has like 1 job for which it has managed to lobby protectionism in perpetuity. Would be nice if could at least be good at it...

[Opus 17]

@xerandin 

Some parts of form 5695 are still broken after it was released.  We don't know why, and anyone on this board is many layers away from actual programmers.  (The moderators are aware.)  I have seen an unofficial date for a fix, but since it didn't come from someone official, I won't repeat it here in case it is wrong. 

[Opus 17]

There's a new notification sign-up for at least some of the problems with form 5695, although it does not seem to cover all the problems. 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/form-5695/form-5695-excluded-return-file...

[xerandin]

This link seems to be broken.

[DawnC]

Use this link to sign up for notifications for Form 5695.   Sign up for Form 5695 notifications.  

@xerandin