Energy Efficient Home credit on second home

[jamesak]

Question 1 of the 12/22/22 IRS FAQs on EE home improvements indicates that certain credits are only available for improvements made to our main home. However, it indicated that credits are available for certain residential energy property expenditures (e.g., central a/c, gas water heater/furnace,  panelboards, etc.) made to a second home. Also, lines 25-30 on the 2023  Form 5695 have been updated to accommodate such expenditures, We made these types of improvements to a second home in 2023 but because they were not on our main home it appears that TT is not letting us claim them. Am I missing something or are others having similar issues? 

[DoninGA]

The IRS Form 5695 Residential Energy Credits for tax year 2023 is currently scheduled to be available in TurboTax on 01/24/2024 (subject to change)

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

[Vanessa A]

No you are not missing anything.  The credits that cannot be taken for your second home are credits for doors, windows, and insulation under the home improvement energy efficiency credit.  All of the credits for the residential energy credits (basically, alternative energy credits) can be taken on your second home.

However, TurboTax has not yet fully updated for 2023.  This is one of the areas that has not been updated, but is scheduled to be updated on January 24th. Please check back after January 24th.

[mpkrcl]

I am having the same issue, is there a resolution yet?

[jamesak]

I'm still having the same issue so I spoke to a TT help desk rep today.  She agreed that there seems to be a problem and tried to help troubleshoot the issue.  At first, we walked through the process using the TT interview mode with no success. The she had me switch to the Forms mode to see if I could fill in the field on the Form 5695. I was able to fill in most of the applicable lines but TT wouldn't allow me to fill in the worksheet between lines 30 and 31. After several tries, I right clicked on the field for the 1st line in the worksheet (which is from 1040 line 18) and then clicked on "override" which allowed me to key it in and then TT inserted the remaining lines and calculated the appropriate credit.

Needless to say, the TT rep and I both agreed that isn't a user-friendly work around. She said the TT tech team would review her notes and hopefully see if they can improve the process for the future. Hope this helps. 

[mpkrcl]

Are you still able to e-file if you do the override?  

[Opus 17]

There is a problem with form 5695 in the program.  We don't have a date for a fix (that I believe.)  Sorry about that, the moderators of this forum know about it.

If you have the desktop program, and use forms mode to do any overrides, you will be blocked from e-filing and must file by mail.  It's an interesting question of whether you should override and file by mail now, or wait for the program to be fixed so you can e-file.