3136169
When filling out form 5695 it asks if home is owned jointly, My mom is on the deed and the mortgage as we thought if something happens to one of us it would make transition to sole owner easier. Although she is on the deed and mortgage she does not pay any of the mortgage, insurance, taxes, maintenance or bills for the house that is all on me. She has a gross income over the limit so i do not claim her a dependent and she doesnt make enough to have to file taxes per her old CPA ....My question is do i claim as sole owner as i am the one who paid for all the improvements
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The question in the section to report Home Energy Improvements asks if you lived together in the same home. That question is only asked if you are filing as Married Filing Jointly.
If you are not married then you are asked if you share ownership with another person. Since your mother is on the deed as an owner you would answer Yes.
Do you know if that then cuts the tax credit in half for me? which i guess is better than nothing
If you paid for the energy improvements then you receive all the tax credit on your tax return.
ok i am confused because i entered the $ number and it say my tax credit is $700 less than it should be i just read another thread that the updated form in turbo tax isnt available to january 31 so i wait THANK YOU for responding so quick
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