topic It says that form 5695 has been update but its still capping my benefit at $500 instead of 20% of the costs. in Deductions & credits

It says that form 5695 has been update but its still capping my benefit at $500 instead of 20% of the costs.

will97 — Wed, 11 Feb 2026 04:09:31 GMT

Re: It says that form 5695 has been update but its still capping my benefit at $500 instead of 20% of the costs.

DoninGA — Wed, 07 Feb 2024 22:13:43 GMT

The posted date is wrong. TurboTax updates the software on Thursdays. So the Form 5695 should be available tomorrow, 02/08.

Re: It says that form 5695 has been update but its still capping my benefit at $500 instead of 20...

AmyC — Wed, 07 Feb 2024 22:15:14 GMT

The problem could be a couple of things. 1. The credit reduces your tax liability and you may have other credits also lowering your tax liability to where you have zeroed out. Take a look at your 5695 and double check your entries, a typo can cause issues. Make sure the form is filled out correctly and then look at your Form 1040 for the tax liability and credits.

2. The form may not be finalized. Please check forms availability here. Select online, Windows, or Macintosh from the drop down menu.

Re: It says that form 5695 has been update but its still capping my benefit at $500 instead of 20% of the costs.

will97 — Wed, 07 Feb 2024 22:18:35 GMT

Thanks. Only reason I checked today was I got a text about the form being finalized. I’ll check again tomorrow. Otherwise I’ll just file elsewhere.

Re: It says that form 5695 has been update but its still capping my benefit at $500 instead of 20...

LeticiaF1 — Thu, 08 Feb 2024 01:20:00 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.