How can I claim residential energy credits for electric heat pumps and heat pump water heaters?

[gonecks1]

It's disappointing that TT needs until the 7th to get the form ready.  The instructions have been official for a couple of days now and the draft instructions were out there for the past month.  I can't believe they didn't have someone working on the program based on the draft instructions so once they went final, they could simply push a button to update the system.  From what I hear TaxAct had the update pushed out the next day and people are filing without issue.

[mjtroll]

I just tried doing the same thing using form 5695 on which under 2023 in red letters it says DO NOT FILE.. I presume it means that its not updated because I also was not able to fill it out to get 30% tax credit for an electric heat pump/high efficiency gas furnace installation that I spent $12000 on 

[mjtroll]

2/3  I just spoke with Turbo Tax and they said 2/7 scheduled update.. I related to them that other software providers already have update installed 

[Jedi4380]

They don't care. Every year they're behind the other providers with forms. And if this form has a minor change next year, it will be mid-February again. It's always the popular forms too that they don't prioritize. I have to wait for some 1099-B/DIVs that won't be out until another week or so (until I can file) but still, it shouldn't take this long. 

[JediNxf7]

Sorry but that is simply not true anymore. The most recent revision to the 2023 form instructions have been out since January 25, 2024, in PDF available on the IRS website. they've also been available directly on the website on  a page last updated February 1.

There is no real excuse for this form to have not been updated in TurboTax long before this, in any event, as the form itself was available in February of 2023 and the instructions are not rocket science for a tax preparation company, but at minimum with the release of the irs instructions on January 25 it is hard to justify missing the most recent promise to have the form available by 1/31. We shall see if 2/7 is yet another broken promise date...

[Dan1900]

I am having the same problem. Solution seems simple if TurboTax would just allow us to edit lines 29 - 30 in Form 5695. The real problem is probably the category that we are forced to enter the dollar amount within the TurboTax application. This restricts the user to 10 percent or $300. However, the user should be allowed a category of 30 percent for the items associated with line 29 of Form 5695. 

[DoninGA]

@Dan1900 No, the problem is that the Form 5695 where you are entering the cost has not been updated for tax year 2023.

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...

[Jedi4380]

Well it's 2/7. The form isn't here and the site still says 2/7. Fun.

[testusername22]

Any ETA? Also waiting

[s_wilson]

dammit...

[conwabt]

It is now February 7 and my TurboTax still has not updated the Residential Energy Credits. When can we expect this update. Thank you Brian C

[DoninGA]

@conwabt TurboTax normally updates the software on Thursdays.  Check tomorrow, 02/08.

[s_wilson]

I just spoke with their live help...she said she verified the update should be ready by later today...whatever that means....

[Laurie90267]

Just tried and it is 6:42pm, still no luck on form 5695. TurboTax, this is not the way to keep long time customers. I will remember this when I file next year. 

[Laurie90267]

Now it says the form wont be ready until 2/8/2024. Let's see if TT changes it again tomorrow evening