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chrisosti
New Member

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

 
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Opus 17
Level 15

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

@chrisosti 

that credit for energy efficient improvements has several limitations. First, there is a lifetime maximum credit for windows of $200. Second, there is a lifetime overall maximum for all such efficient improvements of $500. If you have previously claimed other improvements for the 10% credit, your current credit may be eliminated.  

next, the credit can only reduce the tax you owe, it can’t be refunded if you owe no tax. There are several reasons that you might owe no tax this year. For one thing, you might not have entered all of your taxable income yet.   Or, you might be getting stimulus credits and child tax credits that zero out your tax due.

 

it’s also possible that the section of the program is broken, but it is too early to file anyway.

 

since we can’t see your account or your tax return, you would have to call customer support, or wait until you are ready to file your tax return and then print a copy and review all the lines. Make sure that you actually owe tax and that you have a form 5695 that calculates a credit.  If the credit still doesn’t appear once you have your final printed tax return, you can ask back here for additional help or you can call customer support.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

5 Replies
Critter-3
Level 15

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

That credit form 5695 is non refundable  so have you entered in ALL your income yet ?

chrisosti
New Member

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

Yes, I followed everything in TurboTax. I get to the point of entering the info for my window purchase, and when it get's to the end, it says my credit is zero.
I don't understand. I'm supposed to get 10% of my purchase price for a credit. Sometimes I really question Turbotax.

Opus 17
Level 15

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

@chrisosti 

that credit for energy efficient improvements has several limitations. First, there is a lifetime maximum credit for windows of $200. Second, there is a lifetime overall maximum for all such efficient improvements of $500. If you have previously claimed other improvements for the 10% credit, your current credit may be eliminated.  

next, the credit can only reduce the tax you owe, it can’t be refunded if you owe no tax. There are several reasons that you might owe no tax this year. For one thing, you might not have entered all of your taxable income yet.   Or, you might be getting stimulus credits and child tax credits that zero out your tax due.

 

it’s also possible that the section of the program is broken, but it is too early to file anyway.

 

since we can’t see your account or your tax return, you would have to call customer support, or wait until you are ready to file your tax return and then print a copy and review all the lines. Make sure that you actually owe tax and that you have a form 5695 that calculates a credit.  If the credit still doesn’t appear once you have your final printed tax return, you can ask back here for additional help or you can call customer support.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

chrisosti
New Member

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

Thanks!!! It didn't occur to me that I can't take advantage of a credit as I don't owe any tax this year.
Oh well...

Opus 17
Level 15

Can I get the energy efficient improvement credit? I spent $3600 and it does not give me the credit.

@chrisosti 

Some credits are “refundable”, meaning they can be refunded even if you don’t owe tax. Unfortunately, the energy credit is nonrefundable. It can only reduce your tax, it can’t increase your refund if you owe no tax.  

Cheers.  

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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