topic Energy Efficiency Tax Credit Incorrect in Desktop 2023 in Deductions & credits

Energy Efficiency Tax Credit Incorrect in Desktop 2023

chaosnight7 — Tue, 10 Feb 2026 10:13:06 GMT

I am struggling, we are trying to claim a heat pump on our taxes as a credit, however turbotax desktop seems to have the incorrect calculation. It says it is capped to 300, however online turbotax and other websites say it should be 2,000. Can someone help? It wouldn't let me upload photos so I posted links below.

Desktop version - https://drive.google.com/file/d/1Z59nFwe9zRey6sY58DqrYwNueRMw2k9t/view?usp=drive_link

Web version - https://drive.google.com/file/d/1bGK8EzPzmwZTWk34L1tnWstUAPICei23/view?usp=sharing

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

rjs — Mon, 08 Jan 2024 03:35:50 GMT

The energy credits section of TurboTax is not yet available for filing because it has not yet been updated for 2023. Form 5695 is tentatively expected to be available January 17. (That date could change.) Try entering the credit again after January 17.

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

chaosnight7 — Mon, 08 Jan 2024 03:46:13 GMT

Thank you a ton!

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

kc05 — Fri, 19 Jan 2024 12:49:59 GMT

Any news on a new date? It still hasn’t been updated.

Thanks

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

MayaD — Fri, 19 Jan 2024 15:25:06 GMT

While forms may be available from the IRS on a given date, It takes some time to incorporate IRS forms into TurboTax.

Form 5695 is expected to be available on 01/31/2024.

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

RDC6 — Fri, 02 Feb 2024 00:08:09 GMT

So, as of February 1st, the TurboTax software still says "The maximum dollar amount for energy-efficient building property is 10% with a credit limit up to $300", while 2023 IRS Form 5695 states that the credit is actually 30% up to a limit of $600. Why is this product being sold when it isn't yet complete? Filers who prepare their taxes while trusting the software will lose up to $300 worth of credit!

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

chaosnight7 — Fri, 02 Feb 2024 00:19:46 GMT

It got pushed back again by turbotax, last time I looked - it was the 7th.

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

RDC6 — Fri, 02 Feb 2024 00:31:41 GMT

I do understand that, but if the software isn't yet finalized, why doesn't Intuit put warnings on certain screens in the software to warn its users that a particular function or calculation isn't yet accurate. Intuit is essentially expecting their software's users to know the tax law well enough to catch when their product isn't correct. Most people buy TurboTax because they don't want to have to know the tax law really well, or because they aren't in a position to do so. Intuit is essentially gambling with their customers' tax returns!

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

paulukon — Fri, 02 Feb 2024 13:40:31 GMT

Yes! I just spent 15+ minutes trying to figure out why it said only $500, only to finally get to this forum and find out it's a known issue. If the docs just said *pending* or such, I wouldn't have wasted all this time.

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

KM64 — Sun, 04 Feb 2024 21:02:45 GMT

Here it is Feb 4 and form 5695 states $600 limit for gas water heater, but desktop version still limits to $300. Please fix this as Jan 17 has come and gone

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

VolvoGirl — Sun, 04 Feb 2024 21:04:39 GMT

Just wait a couple days. The Home Energy Credit Form 5695 is not ready yet. It still has the old amounts. It is currently scheduled to be available on 2/7/24 (subject to change). You can check here for the date,

https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

Re: Energy Efficiency Tax Credit Incorrect in Desktop 2023

LeticiaF1 — Thu, 08 Feb 2024 03:13:46 GMT

Updates are still being applied to the software. We recommend updating or logging back into your software tomorrow and then proceeding with filing your tax return.

@RDC6