The 2023 "Home Energy Credits" area in Intuit is not calculating correctly.

[rju]

I replaced both our Furnace and Central Air Conditioner with High Efficiency models in our principal home. I should receive the following rebates totaling $1,200:

$600 Furnace Tax Credit
https://www.energystar.gov/about/federal_tax_credits/natural_gas_propane_oil_furnace

$600 Central Air Conditioner Tax Credit
https://www.energystar.gov/about/federal_tax_credits/central_air_conditioning

Your calculation is only giving me a $300 Tax Credit. I don’t want to buy your service for 2023 tax year unless this calculation is fixed. Please respond.

[DoninGA]

The IRS Form 5695 Residential Energy Credits has not been finalized in the TurboTax program.

The Form 5695 for tax year 2023 is scheduled to be available on 01/10/2024.

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

[havasubob]

Confirming same issue, no interview or direct input to form 5695 for Electric Heat Pump improvement to primary residence ($2000 ). However form has some provision for Geo thermal Heat pump ( I'd highly suggest more clarity for interview screens! )

[DoninGA]

@havasubob 

Qualified energy property is any of the following.
• Certain electric heat pump water heaters; electric heat pumps; central air conditioners; and natural gas, propane, or oil water heaters.

Enter the cost in the box labeled Energy-Efficient Building Property.

[Fastesladriver]

Similar issue, TurboTax isn't calculating my furnace credit properly, it's showing a $150 credit instead of the correct $600

[DoninGA]

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@Fastesladriver wrote:

Similar issue, TurboTax isn't calculating my furnace credit properly, it's showing a $150 credit instead of the correct $600

---

The IRS Form 5695 Residential Energy Credits for tax year 2023 has not been finalized in the TurboTax program.

The Form 5695 for tax year 2023 is scheduled to be available on 01/17/2024 (subject to change)

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

[JediNxf7]

yeah, we are we January 11 2024 and the form is still calculating (and asking questions) based on 2022 law.

the turbo tax site is full of recently updated pages accurately describing the available credits and applicable limits for each under the Inflation Reduction Act, and yet their premier software is a year behind. If Intuit were my company, I would be embarrassed.

[acarenza]

When is Turbo tax going to incorporate form 5695 correctly in the software so that heat pump credit will be correctly calculated. In a previous post it said that it was supposed to be fixed by 1/17/2024 but is yet to be fixed

[DoninGA]

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@acarenza wrote:

When is Turbo tax going to incorporate form 5695 correctly in the software so that heat pump credit will be correctly calculated. In a previous post it said that it was supposed to be fixed by 1/17/2024 but is yet to be fixed

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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...

[Greggg]

February 1 and still not working properly. This is the only piece missing to file my taxes. What is the ETA?

[DoninGA]

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@Greggg wrote:

February 1 and still not working properly. This is the only piece missing to file my taxes. What is the ETA?

---

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...

[Fastesladriver]

Hello,

you've been telling us that the correct Form 5695 will be available in a week for how long now? 

every week it's just another week away.  and yet after every date you've promised, it doesn't work, and then we're given a new date for a week later.... So when will it actually be corrected?  and if it's not, is there a way to manually enter the correct credit?

lastly, if this is not corrected (or there's no workaround) and I cannot file my taxes correctly, who do I need to contact for a refund of the Turbotax purchase price I paid?

[DoninGA]

@Fastesladriver The IRS Just finished finalizing the Form 5695 instructions for tax year 2023 yesterday, 01/31/2024.  It will take awhile before the updated 2023 instructions are compiled 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...

[AMPhil]

1. Can the product indicate the form completion date when working on a section? (Even highlighting the complete list as we login to the product would be helpful)

2. FYI, last week the completion date given was 1/31/24.

3. I have personally spent greater than 1 hour x 2 to find out why the credit is not accurate.

[DoninGA]

@AMPhil 

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...