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How do I add the energy credit for upgrading my electrical service?

I upgraded from a 60amp service to a 200 amp service and per the energy star website I should be able to get credit for 30% of the project cost but I can't find where to enter this on turbotax
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3 Replies

How do I add the energy credit for upgrading my electrical service?

To enter Home Energy Credits -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credit
Click on I'll choose what I work on (if shown)
Under Your Home
On Home Energy Credits, click the start or update button

 

Or enter energy improvements in the Search box located in the upper right of the program screen. Click on Jump to energy improvements

 

Note - 

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 01/31/2024 (subject to change).

Go to his TurboTax website for forms availability - https://form-status.app.intuit.com/tax-forms-availability/formsavailability?albRedirect=true&product...

TomK2023
Expert Alumni

How do I add the energy credit for upgrading my electrical service?

You can enter them like this:

  1. Open or continue your return, if you don't already have it open.
  2. Select the Deductions & Credits tab.
  3. Find the Your Home section.
  4. Select the Start/Revisit button for Home Energy Credits.
  5. On the Energy-Saving Home Improvements screen, answer Yes and Continue. Follow the instructions on the next screens.
    • The first part of the interview covers improvements like doors, windows, furnace, air conditioning, and heat pumps. If you're looking for other improvements like solar, geothermal, wind, and fuel cell, just keep going—we'll ask you about these soon.
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How do I add the energy credit for upgrading my electrical service?

Upgrading to 200 Amp service is only eligible for a credit if it was done as part of a project to install an energy efficient improvement that also qualifies for a credit, such as a heat pump, heat pump water heater, or central air conditioner, that meets the required efficiency standards.

 

Even if you qualify, this credit can't be entered in Turbotax until at least January 31, the updates to the credit form have been delayed. 

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