Two Issues with TT2023 Premier: Federal window rebate and HSA

[easterlee]

Hi, I am getting an early start on my TY2023 taxes with TT, Premier and I am having trouble with the following:

1. The TY2022 10% rebate rule is being applied incorrectly to 2023+ which should reflect the Inflation Reduction Act: 30% up to $600 credit per year for exterior windows.  Is this planned to be corrected/updated in the future?

2. It's my first year with an employee-funded HSA, and entering Code W in Box 12 hard-codes the entire amount as employer-funded, although it is supposed to be any combination of employee/employer funding.  So, I removed Code W, assumed W-2 Box 1 would reflect a deduction for my HSA contributions, and assumed the corresponding HSA deduction for employee-funded amount in TT would not be "double-dipping".  Is this the correct way to treat this?

Thanks in advance.

[dmertz]

The Form W-2 must be entered as received, including the code-W entry.  The entire amount contributed to your HSA via your employer, reported with code W in box 12 of your W-2,  has already been excluded by your employer from the amount in box 1 of your W-2.  You do not get to deduct it again.  Do not enter any of this amount as a personal HSA contribution.  Personal HSA contributions are those you make directly with the HSA without any involvement of your employer.

[Bsch4477]

1.  Energy credit forms are not ready.  Try again in mid January. 
2. Do not change your W-2 information. The amount with code W was deducted from your wages in Box 1 so you are already receiving a tax deduction. Contact your employer if you have any questions. 

[DoninGA]

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

The Form 5695 for tax year 2023 is scheduled to be available in TurboTax 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...

[easterlee]

Thank you all for your really quick replies!

The updated form for federal window rebate being available in January makes sense, and I appreciate the link to forms availability.

And, I am presumptively doing my taxes for planning before I receive any docs, including W-2, so I apologize for not making that clear, but I understand the responses, now.  I got tripped up by anticipating a reduction in my W-2 for my workplace HSA contributions and the separate "outside" contribution per Form 8889, and claiming both would be double-dipping, so I removed my 8889 entry.

Thanks again!