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Level 1
posted Jan 29, 2025 12:13:20 PM

Even though I use std. deduction I thought I could still claim a small tax credit for some replacement energy saving windows using for 5695

0 7 2548
7 Replies
Expert Alumni
Jan 29, 2025 12:17:51 PM

Yes, you can claim the Home Improvement Energy Credit when taking the standard deduction.  Credits are different than deductions and whether you itemize or take the standard deduction, generally does not affect your ability to take a credit.

 

This means until then, the calculation may not accurate so when the form is updated you may be getting the credit.

 If you do not have a tax liability, you are not eligible for the credit as it is a non-refundable credit. See below for additional information on the Home Improvement Energy Efficient Credit. 

 

The Home Improvement Energy Efficient Credit

Worth up to 30% of costs with a maximum credit $2,000 for

  • Air source heat pumps
  • Heat Pump Water Heaters
  • Biomass Stoves or Boilers
  • Worth up to 30% of qualifying costs for a maximum combined total of $1,200 for the following:
  • You can combine the $2,000 credit with the $1,200 credit for a total of $3,200
  • This credit is a is a nonrefundable credit. This means in order to claim the credit you must have a tax liability to offset it.  If you do not have a tax liability equal to the credit the credit will be reduced to match your liability or down to $0. 
  •  use it or lose it credit.  If you do have enough tax liability in the year you buy and install the item, you will not be able to carry the credit forward.
  • Doors, windows and insulation must be installed on your primary home.
  • The home must be in the US
     

(Edited 1/29/2025 @ 12:38PM PST)  @teejaybee

Level 3
Jan 29, 2025 12:33:59 PM

@Vanessa A 5695 is still not up to date for 2024? Is this why my Federal submission for 2024 hasn't been accepted by the IRS yet? I filed on 01/26/25.

 

This delay is EXACTLY what happened when filing 5695 via TT for 2023. Same timeline of Feb 7th!  I ended up filing with H&R Block without any delays in acceptance.

Expert Alumni
Jan 29, 2025 12:38:18 PM

It actually is updated.  A few days ago, it still was saying February 7th would be the update day.  You can click the link here to see forms availability. 

So where are you seeing that you are not eligible for the home energy credit?

Level 3
Jan 29, 2025 12:44:53 PM

@Vanessa A Thank you for your swift reply! I am eligible for the HEC. There was a huge delay last year in regard to Form 5695. I will link it below for reference.

 

Do you know if this form is causing any delays with Federal acceptance? I'm well past 72 hours since I filed and nothing has been submitted to the IRS yet by TT.

 

https://ttlc.intuit.com/community/after-you-file/discussion/tax-filing-pending-after-48-hrs-with-form-5695/00/3180182

Expert Alumni
Jan 29, 2025 1:10:23 PM

I am not aware of any delay due to the 5695. Did you get the text message saying that your return was transmitted?  Did you use the online version or desktop?

Level 3
Jan 29, 2025 1:18:10 PM

@Vanessa A I filed on a desktop. The IRS has no record of my filing. Transcripts are blank as well.

 

Below is what I received via email:

Returns Transmitted:

January 26, 2025, 7:46 AM PST

 

This is what I see when I am logged into TT.

Federal Return

Received by TurboTax:
Sunday, Jan 26, 10:46 AM EST
 
Received by IRS:
Pending
 
Filing status changed to: Pending
Sunday, Jan 26, 10:46 AM EST

Expert Alumni
Jan 29, 2025 1:38:22 PM

Pending means that your e-filed return is on its way and that the government hasn't accepted or rejected it yet.   Since the IRS just started accepting returns on Monday, it is not uncommon for your return (submitted prior to 1/27) to still be in a pending status today.   Delays in accepting returns are the always highest the first week of the tax season.  

 

You should receive an email from us soon confirming that your return has been filed (accepted or rejected), or with instructions for any additional steps that need to be taken.   There are no issues with Form 5695.    @MRC76