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send-keith
Level 2

When will form 5695, residential energy credit be updated so I can claim my 2017 heater furnace? The credit was extended through 2017 by President Trump on 2/9/18.

 
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SteamTrain
Level 15

When will form 5695, residential energy credit be updated so I can claim my 2017 heater furnace? The credit was extended through 2017 by President Trump on 2/9/18.

    That was eliminated for 2017 taxes

    BUT...then it was added back, as it was just passed in the last budget bill on 9 Feb, and retroactively included and will eventually be available for your 2017 taxes.  BUT The forms needed in the tax software may take a month or more to get changed to include it (Blame that on congress).  

    First the IRS has to now reprogram their computers in the middle of a busy tax season, 

    ....and then they have to notify the software companies how they want them to implement the changes.

    .........then each company's software has to be RE-programmed, and to be tested with the IRS before it can be trotted out to the customers.  (Mid March...maybe but that's a wild guess)

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

    View solution in original post

    3 Replies
    john.rosenthal1
    New Member

    When will form 5695, residential energy credit be updated so I can claim my 2017 heater furnace? The credit was extended through 2017 by President Trump on 2/9/18.

    Received message that form 5695 is uploaded in software, but I cannot access same as I get a message waiting for software update
    jill-dyer
    Returning Member

    When will form 5695, residential energy credit be updated so I can claim my 2017 heater furnace? The credit was extended through 2017 by President Trump on 2/9/18.

    Form 5695, Home Energy Credits, has been available in TurboTax since early March.  Select "Deductions and Credits", then "Home Energy Credits" in the "Home" section towards the top of the screen.
    SteamTrain
    Level 15

    When will form 5695, residential energy credit be updated so I can claim my 2017 heater furnace? The credit was extended through 2017 by President Trump on 2/9/18.

      That was eliminated for 2017 taxes

      BUT...then it was added back, as it was just passed in the last budget bill on 9 Feb, and retroactively included and will eventually be available for your 2017 taxes.  BUT The forms needed in the tax software may take a month or more to get changed to include it (Blame that on congress).  

      First the IRS has to now reprogram their computers in the middle of a busy tax season, 

      ....and then they have to notify the software companies how they want them to implement the changes.

      .........then each company's software has to be RE-programmed, and to be tested with the IRS before it can be trotted out to the customers.  (Mid March...maybe but that's a wild guess)

      ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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