topic Re: nonbusiness energy property credit 2018 in Deductions & credits

nonbusiness energy property credit 2018

Italstal3 — Wed, 08 Jan 2020 13:54:39 GMT

My understanding is that the nonbusiness energy property credit got extended through 2019 tax year. As I have already filed my 2018 tax return last year, I assume I need to file an amended return as I had substantial energy investments into my home that tax year? When will Turbo Tax 2018 be updated to allow this amendment? As of today, it does not seem to reflect the tax law changes, so I would appreciate your direction or input in how I can take advantage of this extended tax credit from 2018 taxes.

Re: nonbusiness energy property credit 2018

DoninGA — Wed, 08 Jan 2020 14:03:19 GMT

TurboTax cannot make any changes to the Form 5695 for tax year 2018 until the IRS approves the changes to the form. As of this date the IRS has yet to change Form 5695 for tax year 2018. It may be several months before all the tax extenders just passed are reflected in the IRS forms and schedules for 2018.

Re: nonbusiness energy property credit 2018

Zoomerj — Sat, 28 Mar 2020 15:49:23 GMT

These changes had to be approved by now. I just tried an amended return in TurboTax Deluxe for 2018 tax year, and it clearly has still not been updated? Why isn't the update available?

Re: nonbusiness energy property credit 2018

DoninGA — Sat, 28 Mar 2020 15:51:31 GMT

@Zoomerj wrote:

These changes had to be approved by now. I just tried an amended return in TurboTax Deluxe for 2018 tax year, and it clearly has still not been updated? Why isn't the update available?

The software to amend the 2018 return for any tax extenders is scheduled for mid-April - https://ttlc.intuit.com/community/tax-topics/help/2018-extenders-passed-under-taxpayer-certainty-and-disaster-tax-relief-act-of-2019/00/1197091