I use my primary home for business (30% use). I'm using TurboTax for Home and Business. I had thought that the energy tax credit would be calculated as Total cost $6000 of biomass stove by 70% residential portion of home, multiplied by 30% of the cost. So $6000*.7*.3 = $1260. Turbotax is not taking into account the partial use of the home for business, and giving me a higher than expected tax credit. In the IRS instructions for Form 5695, and in Form 5695 and in the Energy Efficient Home Improvement Credit Limit worksheet, I don't see anywhere to enter the percentage of the home used for business vs. residential. Am I wrong in the calculation?
Thanks
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You have to apply the correction yourself. The interview section for business use of your home does not directly interact with the section for the energy credit. In your case, enter 70% of the full cost as if it was the full cost.
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