Energy Efficient Improvements - HEAT PUMP

[dhatzop]

Hello, 

i replaced my heat pump with an energy efficient one that qualifies for tax credit. However i dont see an option in turbotax under the energy efficient improvements. i attached the options i see. please let me know what to choose. 

[AnnetteB6]

For the installation of an energy efficient heat pump, you would enter the cost in the box next to Energy Efficient Building Property on the screen titled Tell Us How Much You Paid for Energy-Saving Improvements.  

Clicking the blue Learn More box beside that line will tell you what this line would include.

[dhatzop]

Thank you for the response however i am not sure this is the right one since when i click on "Learn more" for Energy efficient building property it says: The maximum dollar amount for building property is 10% with a credit limit $300 yet on the IRS website: https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit it says: 

Heat pumps and biomass stoves and boilers

Heat pumps and biomass stoves and boilers with a thermal efficiency rating of at least 75% qualify for a credit up to $2,000 per year. Costs may include labor for installation.

Qualified improvements include new:

• Electric or natural gas heat pumps
• Electric or natural gas heat pump water heaters
• Biomass stoves and boilers

[DoninGA]

@dhatzop 

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...

[dhatzop]

This makes sense 🙂

Thank you! i will wait until thats available then!