3179083
According to Intuit website, form 5695 is now available, and I have updated my TT. I filled in all the info for the $11,000 I spent on energy-efficient exterior doors, and yet TT says I get no credit. My understanding is that I should qualify for up to $500 annually. I did receive an energy credit for WINDOWS way back in 2010, but I thought the 2023 rules state I should still qualify for a sum annually. Is the $1200 limit meant to be a LIFETIME limit?
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@kristinelise57 wrote:
Thanks for your quick response. In the past this amount could be carried over, but that's no longer the case?
The Energy Efficient Home Improvement Credit could not be carried forward now or in prior tax years, items such as windows, doors and insulation. And other Qualified energy property which 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.
Only the Residential Clean Energy Credit can be carried forward, which includes Qualified solar electric property costs, Qualified solar water heating property costs, Qualified small wind energy property costs, Qualified geothermal heat pump property costs, Qualified battery storage technology costs and Qualified fuel cell property costs.
If your tax liability is 0 then the credit cannot be used.
Click on Forms. In Forms mode look at your Form 1040 on Line 22. Also look at the Form 5695 where the amount for the exterior door was entered on Line 19.
Corrected answer - removed carried forward.
Thanks for your quick response. In the past this amount could be carried over, but that's no longer the case?
@kristinelise57 wrote:
Thanks for your quick response. In the past this amount could be carried over, but that's no longer the case?
The Energy Efficient Home Improvement Credit could not be carried forward now or in prior tax years, items such as windows, doors and insulation. And other Qualified energy property which 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.
Only the Residential Clean Energy Credit can be carried forward, which includes Qualified solar electric property costs, Qualified solar water heating property costs, Qualified small wind energy property costs, Qualified geothermal heat pump property costs, Qualified battery storage technology costs and Qualified fuel cell property costs.
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