Hi,
Why is my Home Energy Credit that shows up as allowed in the detailed breakdown not show up in the Tax Summary?
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Yes, that is what it means. Your forms are accurate, so what you are seeing on your form 5695 and Schedule 3 line 5, is the actual credit you are receiving. Also, the tax amount you owe is the actual tax amount you owe. It is just the summary screen does not always populate for some reason. But, there is an accuracy guarantee of the forms.
The Home energy credit is a nonrefundable credit. For nonrefundable tax credits, once your liability is zero, you won't get any amount back as a refund.
Check form 1040 line 22 to see if you have any tax liability.
Form 1040 line 22 is over $11000.
Look at your form 5695 to see if you received the credit. The summary screens are not always complete.
It is showing up on line 30 of form 5695. Does this mean that the summary is inaccurate but the credit is in fact calculated or is the tax owed also inaccurate?
Yes, that is what it means. Your forms are accurate, so what you are seeing on your form 5695 and Schedule 3 line 5, is the actual credit you are receiving. Also, the tax amount you owe is the actual tax amount you owe. It is just the summary screen does not always populate for some reason. But, there is an accuracy guarantee of the forms.
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