Home Energy Credit

[dama0711]

When will be available form 5695 for 2024 tax return, its show that on 1/31/2024 but as today is not available and I cant file my taxes

[CatinaT1]

This form has been updated, with the exception of second homes. Here is the link for updates: Why are Home Energy improvements for my second home not qualifying for the Home Energy Credits?

If you don't have a second home, try closing TurboTax, clear your Cache and Cookies if you are using TurboTax Online, and reopen TurboTax.  You can also try a different browser.

Also, make sure you have ran all updates. 

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If using TurboTax Desktop: Please see this FAQ.

[18161625]

Hi @CatinaT1 do you know when this will be updated?  It’s been WEEKS since turbo tax released this form and first acknowledged this issue. The most recent notice from Turbo Tax currently live about this issue is a week old. https://ttlc.intuit.com/turbotax-support/en-us/help-article/energy-tax-credits-deductions/energy-imp...

There was also a notice about it posted before that one above that was taken down. 

I checked H&R Block software and theirs is working correctly.  I’ve used turbo tax for years, so it would be a shame to switch over, but I’m not sure what choice I have at this point if a fix isn’t coming soon or if Turbo Tax won’t even acknowledge a potential fix date. 

[AmyC]

The form is being updated.   Please sign up for notifications.  Use this link to sign up for notifications for Form 5695.   Sign up for Form 5695 notifications.    

@18161625 

[18161625]

Hi @AmyC   
 Thanks for the response! I am aware that the form is being updated, but this is issue has been around for weeks, and the post you linked, that I also refereed to in my question, has been around for a week already. I am already signed up for updates with that link.  

My question is if we know WHEN the form will be updated? Many of us are waiting to file taxes, and/or considering moving to other companies who are getting this stuff right. If we had an idea when this is going to be fixed, it might be helpful. Thanks. 

[AmyC]

I see a customer resolution date of 3/1 on  both investigations that I found. I don't know what that means in the big picture. Is that when implementation begins or ends or what else is involved in making sure you have a quality product.

@18181625

[18161625]

Thanks for the update. 3/1 I think is AFTER Turbo Tax raises prices for filing. Pretty amazing that they can let this go on for weeks and weeks. 

[xcel102]

It's March 9th, I have the latest update on my desktop Deluxe, and this credit is still messed up. The Federal Review screen shows I have no credit and that I owe about $1700. But when I click into "Detailed tax breakdown" the $2000 credit is there. It also calculates a penalty because of the balance due. Had the credit been applied I wouldn't owe a balance.

What now? This is my first time using TurboTax. The experience had been great until this major roadblock.

[MonikaK1]

Did you review your forms? In TurboTax Deluxe Desktop, you can switch from Step-by-Step view to Forms view by clicking the button on the upper right.

Your Residential Energy Credits are on Form 5695. The energy credits are nonrefundable credits that can be applied against regular income tax. If you didn't have enough regular income tax against which to apply the credits, you can carry the credit forward to next year. This is shown on Form 5695.

The credits calculated on that form are transferred to Schedule 3, lines 5a and 5b and added to other credits.

The total credits on line 8 of Schedule 3 are then transferred to line 20 of Form 1040.