Where on TurboTax do we file Federal Heat Pump tax credit?

[OliKat168]

On https://www.energystar.gov/about/federal_tax_credits/air_source_heat_pumps, I understand we can file for a federal tax credit for qualified heat pumps. I am unable to figure out where on TurboTax I can enter this information. Please help.

[ThomasM125]

You need to enter your heat pump information in the Deductions and Credits section, then Your Home, then Home Energy Credits. On the screen that says Tell us How You Paid for Energy-Saving Improvements, choose the category Energy-Efficient Building Property.

[OliKat168]

Hello. I'm currently using TurboTax Premiere 2023 version and I do not see that option.

My only options are:

- Solar electric costs

- Solar water heating costs

- Small wind energy property

- Geothermal heat pump property

- Biomass fuel property

- Fuel cell property costs (for your main home)

- Kilowatt capacity of fuel cell property

That's the only items I see on this page.

[DoninGA]

@OliKat168 You passed the page where you enter your cost for the Heat Pump.  Click on the back button until you land on the page shown in the answer above on this thread.

The screen is labeled - Tell Us How Much You Paid For Energy-Saving Improvements 

[ThomasM125 · Accepted solution]

You may have to answer that the home is your home in the US, the improvements were made to your main home, and that the improvements weren't related to the construction of your main home: 

[OliKat168]

Thank you. That last screenshot helped a lot.

I had previously selected "Yes, all of the improvement were related to the construction of my main home." accidentally.  After I selected the 3rd option "No, the improvements weren't related to the construction of our main home.", the items I was looking for appeared in the next page. Thank you so much!!

[cindyl58]

I have found the spot to enter it but isn't not showing up on form 5695 line 29A and I'm not getting the credit, why?

[DoninGA]

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@cindyl58 wrote:

I have found the spot to enter it but isn't not showing up on form 5695 line 29A and I'm not getting the credit, why?

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

The Form 5695 is scheduled to be available in TurboTax on 02/07/2024 (subject to change).

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

[Criddle26]

I have a heat pump as well, but when I follow the questions on the page before Yes to US Home, Yes to improvements and No to construction improvements, it doesn't give me a place to enter the amount for my heat pump.

Exterior Doors Learn More
	Exterior Windows Learn More
	Metal or Asphalt Roof Learn More
	Insulation Material or System Learn More
	Energy-Efficient Building Property Learn More
	Advanced Main Air Circulating Fan Used in a Natural Gas, Propane, or Oil Furnace Learn More
	Furnaces and hot water boilers powered by natural gas, propane or oil Learn More

[DoninGA]

@Criddle26 Until the Form 5695 for tax year 2023 has been finalized in TurboTax you will not be able to enter your heat pump cost on the correct line of the Form 5695.

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

The Form 5695 is scheduled to be available in TurboTax on 02/07/2024 (subject to change).

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

Note - The website indicates the Form 5695 will be available on Wednesday, 02/07.  However, TurboTax normally updates their software on Thursdays, so you may have to wait until, 02/8.

[jjmac]

I received an email today stating that the forms were ready, but turbotax still only allows a one time credit of up to $500 instead of the unlimited $2000 limit for this.  When will this be updated?

[DoninGA]

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@jjmac wrote:

I received an email today stating that the forms were ready, but turbotax still only allows a one time credit of up to $500 instead of the unlimited $2000 limit for this.  When will this be updated?

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The Form 5695 for the Residential Energy Credit is not yet finalized for 2023.  It is expected to be finalized for use tomorrow, 02/08.

[Cdp33]

I received an email that form 5695 is ready, but when I log in, it says it is not ready.

[LeticiaF1]

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.

[Criddle26]

I only see Geothermal Heat Pump. I'm assuming that means you are still working on this form?