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Ajaw2351
Returning Member

Zero 2023 Energy Credit for Central Air Unit installed

Hello Turbo Tax Premier Developers,

RE: ENERGY CREDIT FOR CENTRAL AIR INSTALLED IN 2023

I am totally disappointed with Turbo Tax. And, I am beginning to lose confidence in your product. Purchased your Premier recently as I need to make a final advance payment to the IRS by Jan 16, 2024 for 2023. My Energy Credit is calculating as zero for a  new Central Air unit installed in 2023.

The same situation continues to be prevalent in the Community with your software each year whereby the Energy Credit calculation computes to zero.  One would think that the situation would have been resolved.

Hoping for an explanation and a fast resolution to my situation. Thank you!

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3 Replies

Zero 2023 Energy Credit for Central Air Unit installed

The energy credit forms are not ready yet.

 

 Click Review to see if you are missing some forms needed in order to e-file.

 

Many federal and state forms are not yet available.  Check here for form availability. The dates are subject to change.

 

Tax form availability tool,

 

No hurry to e-file since the IRS will not begin to accept/reject 2023 e-files until January 29.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Zero 2023 Energy Credit for Central Air Unit installed

This following is also sometimes an issue...though it may not apply to you:

 

One other thing that people run into, is that they fail to enter any income first...i.e. no credit is received until they actually have enough income entered to create a tax liability...for which the Credit can be used.  

 

Yeah, the form 5695 hasn't been finalized yet, so even if you put the energy improvement in, it might not calculate the right energy credit......or none at all.  Depends on how far behind the software is.....but until the final forms are updated in the software...nothing can be confirmed as being right or wrong.

 

Early birds just have to do a few manual calc estimates on their own.....Sorry...just the way it is Every Year.

 

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Ajaw2351
Returning Member

Zero 2023 Energy Credit for Central Air Unit installed

This reply is very helpful. Thank you very much Xmasbaby0 & Steam Train! 
 
Because it won't be available until Jan. 17, I will now have to self-compute my final Estimated Payment to the IRS due Jan.16, 2024. Not what I expected.  Hopefully, this would be taken into consideration for those who pay Estimated Taxes as it's not helpful after the fact. 
 
However, this information should have been disclosed during the preparation where you begin your calculation or where the "0" is shown. This would have been satisfactory instead of doubting what you've read and the frustration following compared to those who you trust with helping to prepare your Taxes and paying a Premium for their Software.
 
What is difficult to understand, the Secure 2.0 Act was passed back in 2022. Why was it not worked on to be ready for their 2023 rollout?  How difficult could it be? Makes one think some are asleep at the wheel overseeing the implementation of the applications and deadlines. Please attach more professionalism, accuracy and timeliness to your product that the masses can trust.
 
What's concerning, here's no way to for direct contact unless you are willing to pay another $80: to bring to their attention that which is perceived to be their error or lack thereof. Thank you!
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