topic Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300. in Deductions & credits

Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

kcgd288388 — Tue, 24 Feb 2026 08:16:22 GMT

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

DoninGA — Tue, 26 Dec 2023 15:49:26 GMT

Form 5695 Residential Energy Credits has not been finalized in TurboTax.

The form is scheduled to be available on 01/10/2024.

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

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

SteamTrain — Tue, 26 Dec 2023 22:18:18 GMT

i.e. wait until late in January, then go thru the energy credits Q&A again to make sure they get into the right place.

AND, you will (eventually) need to be clear as to whether it is a Geothermal heat pump, or an Electric heat pump (i.e. air source).

The Geothermal ones usually go in a later section of the energy Q&A series.

The electric (air source) ones should be in a newer area for "Energy Efficient Home Improvement Credit"........then "Residential Energy Property Expenditures"

....But I have no idea how TTX will eventually arrange the Q&A flow for that section..

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

Rocky1049 — Fri, 12 Jan 2024 18:53:07 GMT

So it looks like this still isn't updated should we just wait?

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

DoninGA — Fri, 12 Jan 2024 19:00:01 GMT

@Rocky1049 wrote:

So it looks like this still isn't updated should we just wait?

Yes, you will have to wait for the Form 5695 for tax year 2023 to be finalized and available in TurboTax.

The form is currently scheduled to be available on 01/24/2024 (subject to change)

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

mdrdsr — Tue, 23 Jan 2024 00:42:05 GMT

Are we still waiting? I too am not able to get this credit

Thanks,

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

DoninGA — Tue, 23 Jan 2024 01:05:47 GMT

@mdrdsr wrote:

Are we still waiting? I too am not able to get this credit

Thanks,

As stated in the prior post - dates are subject to change.

The Form 5695 is scheduled to be available in TurboTax on 01/31/2024 (subject to change).

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

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

wildmage27 — Tue, 30 Jan 2024 13:52:10 GMT

Bad thing is people are probably filing and Turbo Tax is giving the wrong information.

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

DoninGA — Tue, 30 Jan 2024 13:57:17 GMT

@wildmage27 wrote:

Bad thing is people are probably filing and Turbo Tax is giving the wrong information.

No one will be able to file their federal tax return using TurboTax if they have a Form 5695 included in the return. The TurboTax program will prevent them from filing until the Form 5695 is approved for filing.

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

jrivers86 — Thu, 08 Feb 2024 00:01:45 GMT

It's now 2/7, the most updated date for this form; the IRS shows it is approved. When will TurboTax have it ready? I am prepared to take my business elsewhere since it's showing as available with other software services.

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-Efficient Building Property but is capped at 2022 level of $300.

kc05 — Thu, 08 Feb 2024 00:38:08 GMT

I agree. This is ridiculous.

Re: Where do I enter the 2023 Heat Pump tax credit for $2000. It mentions Heat Pump under Energy-...

CatinaT1 — Fri, 09 Feb 2024 20:02:58 GMT

Try closing TurboTax, clear your Cache and Cookies if you are using TurboTax Online, and reopen TurboTax. You can also try a different browser.

Also, make sure you have ran all updates.

If you are using TurboTax Desktop, check for updates under the Online Tab.

Please tell us if after you do those steps if it doesn't reflect the 2023 amounts.