Your energy-efficient furnace may qualify for the Nonbusiness Energy Property Credit portion of the Residential Energy Credits. You'll enter the cost of the furnace under Tell Us How Much You Paid for Energy-Saving Improvements. (Click the screenshot below for reference.)
To enter your energy-efficient furnace in TurboTax:
- Open (continue) your return in TurboTax Online.
- Click Tax Tools (lower left side of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the I'm looking for: box, type 5695.
- In the results box, highlight 5695, residential energy credit, then click GO.
- Follow the onscreen instructions to complete this section. After you enter the cost of your furnace and answer the corresponding questions, TurboTax will determine if you qualify for a Nonbusiness Energy Property Credit.
Note: If using the TurboTax CD/Download software, you'll use the Find function and the "Jump to" link (instead of "Tax Tools") to search for the topic.
The Nonbusiness Energy Property Credit has a lifetime total combined limit of $500, so if you have claimed the credit in a prior year your deduction may be reduced. See IRS Instructions for Form 5695, Residential Energy Credits for more information.
Can I claim energy-saving home improvements? https://ttlc.intuit.com/replies/3300639
[Edited 03.02.2018 I 11:58AM PST]
