Form 5695

[Anonymous]

So I installed new energy star windows and doors in 2018. Last year I entered this in turbo tax but received no credit. This is due to my tax liability being positive (refund). I now owe taxes this year and try to claim the 2018 as a carryover. I look at the form 5695 and see no mention of the carry over. 

Reading the IRS site for the form, it looks like it is a retroactive change so I must submit a 1040-X with an amended form 5695 for 2018 so I can claim in 2019. Does TT have this option built in or how do I proceed?

[JotikaT2]

No, if you have a tax liability, you can use the credit carry forward.

In order to ensure the carry forward is entered into your return:

1. Go to the Federal section
2. Select "Deductions & Credits"
3. Scroll through all tax breaks until you see the section titled "Your Home."
4. To the right of "Home Energy Credits", select revisit

Answer the questions as prompted.  You will get to a screen which starts asking for information regarding carryforwards from prior years.  Enter the information as it applies to your situation.

Pay attention to the questions as they start with 2019 information and then go into improvements from prior years.  The information requested for the prior years will show you the year, Form 5695, and the applicable line number.

[Anonymous]

Thanks for the quick response. That screen you show for entering the previous years expense only goes up to 2016. Since my expense was in 2018, I have no option to enter to 2018 expense.

What I referenced for submitting an amended return came from the following IRS document. It is mid way down the first column.

https://www.irs.gov/pub/irs-pdf/i5695.pdf

[AmeliesUncle]

You are correct, you need to amend your 2018 tax return.

That credit did not exist when you originally filed your 2018 tax return, which is why you did not receive a credit.  But Congress has retroactively added it, so you can now amend your 2018 tax return to claim the credit.

[Anonymous]

That brings me back to one of my original questions. I checked for updates in the 2018 TT program and completing the built in 1040x still does not provide the credit. Maybe TT has yet to add the update to the 2018 program.

[DoninGA]

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@Anonymous wrote:

That brings me back to one of my original questions. I checked for updates in the 2018 TT program and completing the built in 1040x still does not provide the credit. Maybe TT has yet to add the update to the 2018 program.

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The IRS has not updated the 2018 Form 5695 or the form instructions.  Until the IRS has updated their forms, TurboTax cannot update the forms in the 2018 software.

[Bman2]

The 2018 5695 form is updated as of Feb 2020. Pulled the document to confirm

[DoninGA]

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@Bman2 wrote:

The 2018 5695 form is updated as of Feb 2020. Pulled the document to confirm

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See this TurboTax support FAQ for a 2018 Form 5695 - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-taxes-to-claim-energy-credits/01/2...

[DoninGA]

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@Bman2 wrote:

The 2018 5695 form is updated as of Feb 2020. Pulled the document to confirm

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Found this Support FAQ for amending a 2018 tax return that includes tax extenders - https://ttlc.intuit.com/community/tax-topics/help/2018-extenders-passed-under-taxpayer-certainty-and...

[Anonymous]

Thanks. I have been checking periodically. Crossing my fingers that TT updates the 2018 software so I don't have to fill these out completely by myself.