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You do not re-download the software. You should be getting weekly updates. Exactly how you get them depends on whether you are using Windows or a Mac. See the following FAQ.
How do I update my TurboTax Desktop software program?
@michaelkamen-com your response appears to be incorrect. The form you reference is for heating a home with a heat pump. The question is about heating water with a 'heat pump water heater'. This is a separate credit, tough for the same amount. As of 2/1, two live TurboTax agents could not find the place to enter this credit.
Not sure what response you are referring to. I do not recall intentionally mentioning the water heater heat pump, although possibly I was posting in the wrong place. If so sorry for any confusion. That said, I do see, on line 29 of the draft version of the new form 5695, the heat-pump water heater is mentioned in the same sentence as the central air-source heat pump. It appears to me that the same rules apply, but you need to download it from the IRS.gov site and make your own call on that.
Cheers
@michaelkamen-comI could not agree more. It's a good thing I had the existing expectation that my credit should be $600 and not $200 and caused me to second-guess that. There's no excuse that TurboTax would even allow us to go through that whole home energy credit section if it wasn't finalized yet from the IRS. It absolutely needed a basic message of "this section is not quite ready, we'll make sure we have you revisit it before filing."
Its 03FEB. Turbo Tax still fals to recognize Heat Pump home improvements for any deduction or credit.
What's up TT?
@scott giles wrote:
Its 03FEB. Turbo Tax still fals to recognize Heat Pump home improvements for any deduction or credit.
What's up TT?
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...
Guess we can blame "the government" all we want but the official form has been available for a week now. So, blame private enterprise... still the same 2022 input on TT that gives me $150 instead of $2600. Might as well file paper... thankfully haven't paid them anything.
Lol "subject to change". TT should update their forms immediately. The "official" form has been available for a week at least. But here we are... nothing.
@Jmdenver01 The IRS only just finished finalizing the Form 5695 instructions for tax year 2023 on 01/31/2024. It takes awhile to compile the new instructions and then integrate them into the TurboTax software.
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...
Have to ask, why can they pay 13 cents to generate a non-responsive and repetitive reply to the same concern but can't spend 13 cents updating a form available a week ago. Definetely saving my 89 bucks and just filing by paper.
I also tried to enter items that carry an tax credit for 2023 and TurboTax did it wrong. I understand that the form is not ready yet, but there should at least be a warning on TurboTax to prevent users from suspecting an error and digging into the IRS website to find the rules.
@Jmdenver01honestly, time to relax. Even more honestly, I think you just going and doing it yourself on paper sounds better so you don't have to post your whining here anymore. I think your reactions are unreasonable. YouTube is your playground for that.
Taxes aren't due for 2-1/2 months, this is not causing anyone to file late or ask for extensions. You can input EVERYTHING into TT still and it will update when it updates. Just don't file yet, does that make sense? When you posted on 2/4 that "The "official" form has been available for a week at least", that's just blatantly false information and makes you look immature and uninformed and manipulative.
The bigger issue is that if the 5698 section wasn't finalized for 2023 yet, TT really needed to have a popup/notification for users notifying them as such if they are utilizing that section. Otherwise they're just going to create a huge PR issue with amended and corrected returns once filers find out. AFAIC, it's completely unacceptable by the IRS for something like this to linger into late Jan for the PRIOR tax year. That's an epic fail that a private tax filing entity can't possibly be held accountable to (....at least not yet). I'm like you, just waiting for it to update, but taxes will get filed no problem only so long as I don't file late and TT doesn't force me to file for an extension because of this.
Get on it Turbo Tax! I am done with my taxes except the tax credit for my heat pump
I'll be curious to watch and see what tomorrow brings 😃
Let's see if TT is proactive or silent?
If you all don't get your stuff figured out I will just use TaxAct. They have had the form updated for a week now.
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