Form 5695 - More than 1 New HVAC Unit

[TampaTrader]

The way I read the rules, you can get a $300 credit for a qualifying purchase per item with an overall limitation of a $500 lifetime credit.

How does TurboTax handle situations where you purchased two qualifying A/C systems? Is there an "extra copy" feature available? In my situation, I'd have two credits of $300 each, but would be limited to $500 due to the lifetime maximum. The program doesn't appear to be able to handle this.

[DMarkM1]

Yes you can claim one item in each category for one property unless you and your spouse lived in two separate main homes.  In the case of the latter you would check the appropriate box and two property forms would be generated.   

[TampaTrader]

Thank you for the response.

Spouse and I live in the same home. We installed TWO Central A/C units which qualify. (Upstairs and downstairs have separate systems). We are entitled to a max of $300 credit for EACH system with an overall limitation of $500. 

In the program, the total cost for these units is entered in "Energy-Efficient Building Property" category. The credit is computed at $300 because the program is assuming it's just ONE unit. 

What is the solution to obtaining the $500 credit we are entitled to?

[KathrynG3]

Enter in the combined total for your purchases.

You do not need to enter in the amounts separately. Just be sure to keep your receipts for your records.

Follow the steps below to get to the Residential Energy Credit section of your return.

• Once you open your return, click on the magnifying glass in the upper right corner
• In the search box, type residential energy credit and click the magnifying glass
• Click the Jump to residential energy credit link.