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John P4
Returning Member

Form 5695 joint occupancy does not work

Form 5695 energy credit with regard to joint occupancy (other than spouse) still does not work right, even after the latest updates 2/24/2024.  For gas and electric heat pumps, the limit is $2000.  I split the cost with a joint owner, so my credit should be $1000.  If I use the joint occupant worksheet, Turbo Tax comes up with a credit of $250.  I know this is wrong.  The worksheet STILL does not work.  Has anybody else come to the same conclusion? 

 

The support sucks.  I can't ask a simple email question that can be answered definitively.

 

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5 Replies

Form 5695 joint occupancy does not work

I have the same problem. I'm copying my post elsewhere here to try to get visibility, I hope this can be corrected asap.

 

In the 5695 Joint Occupant Residential Energy Costs worksheet, for heat pumps/biomass stoves, the "total maximum eligible costs for column (b) of lines 9-11" should be 6,667, NOT 1,667 as currently in the worksheet. The current 1,667 leads to a max credit of 1,667 x 0.3 = 500 instead of the correct 6,667 x 0.3 = 2000 credit.

When I incorrectly say I don't jointly own the home, the correct credit of 2000 appears, since it bypasses this incorrect joint occupant worksheet.

Please correct this asap - it's a very simple fix to this prepopulated value from turbotax.

Form 5695 joint occupancy does not work

This is a known problem and is being worked on by the TurboTax development team.  Currently there is no firm date when it will be fixed.  Hopefully in the next week or two.

John P4
Returning Member

Form 5695 joint occupancy does not work

If this is a "known problem" as you say, then why isn't it fixed?  It's a simple math problem.  It's not some obscure tax law.  It could be fixed in a day.  And if this is a known problem, why does Turbo Tax claim that Form 5695 is ready for electronic filing.  It is not.  Right now, if I didn't notice this, or if I "trusted" Turbo Tax to be correct, I would have filed with incorrect numbers, and I would have had to file an amended return.  The status of this form is unacceptable and inexcusable.

Form 5695 joint occupancy does not work

@John P4 You are preaching to the choir.  Could not agree with you more.  However, since we are only volunteers on this forum we do not have direct access to the TurboTax developers.  If I could get a firm date from them I would post it all over this forum.  But unfortunately all we can do at this point is wait for the software to be corrected.

TurboTax normally updates their software on Thursdays, so check back on 03/07.

AnnetteB6
Employee Tax Expert

Form 5695 joint occupancy does not work

As of the last TurboTax update, most of the known issues with Form 5695 have been resolved.  

 

There is still a calculation issue affecting only joint ownership of the home and claiming one specific credit that is scheduled to be corrected with the next update around March 8th.  If this applies to you, see this link and sign up for updates:  Why is TurboTax limiting my Home Energy Credit when I have a non-spouse occupant?

 

If you are still experiencing an issue, please respond with details so that someone may help you get it resolved.

 

@John P4 

@arnoldpark 

 

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