Heat Pump Water Heaters Tax Credit - 2023 - should be $2000 tax credit per IRS website but Turbotax is telling me no?

[lreimer74]

Heat Pump Water Heaters Tax Credit - 2023 - should be $2000 tax credit per IRS website but Turbotax is telling me no?

[xmasbaby0]

The forms for energy credit such as this one will be updated by mid-January-  so check back later when the IRS has finished the forms.

[Bsch4477]

The credit is 30% of the cost with a maximum of $2,000.  If not calculating correctly it may be that the form has not yet been released by the IRS and TurboTax will update the program as filing season begins on January 24. 

[lreimer74]

Thanks this makes sense all my research indicates the credit is accurate - 30% of cost including install up to $2000 ... will wait until Jan as suggested 

[lreimer74]

IRS form is updated on web ... why is TurboTax not updated? This is a major common deduction ???

[xmasbaby0]

@lreimer74 That is the case with many forms---you can see them on the website, but that does not mean the IRS has them ready for tax software yet.   You have to wait.