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rrzach
New Member

I got a $9,475 installation of a home energy credit eligible heat pump. Why would my home energy credit come out to $0 on TurboTax?

 
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1 Reply
DavidD66
Expert Alumni

I got a $9,475 installation of a home energy credit eligible heat pump. Why would my home energy credit come out to $0 on TurboTax?

I can't say for sure with such limited information.  Energy tax credits aren’t refundable tax credits. This means that you can reduce your total tax to zero if you have a large enough credit. But you can’t get any excess credit amount as a payment to you on your tax return if you have more energy credit than your total tax.  If you installed other 

 

I suggest you revisit the energy credit section and review your entries.  Open or continue your return, if not already open.  

 

  • Select the Deductions & Credits tab.
  • Find the Your Home section.
  • Select the Start/Revisit button for Home Energy Credits.
  • On the Energy-Saving Home Improvements screen, answer Yes and Continue. Follow the instructions and review your entries.

For information on what is eligible for the credit click on the following link: IRS Instructions for Form 5695

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