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firedan
Returning Member

Form 5695 Qualified Energy Property Costs

I seems there is still issues with form 5695, I have not found this concern in the other discussions.  Maybe there and I missed it, but here goes. Under the tab, "Enter your qualified energy property costs" it lists 8 items.  Item three is "Water boilers".  I  believe that this line item should also include "furnace".  Section 22 of form 5695 lists "Amounts you paid for a qualified natural gas, propane, or oil furnace or hot water boiler".  Based on my VITA training, my HVAC contractor and this wording... qualified furnaces should be added to the area where this is entered.  I can just add the amount in on the "Water boilers" line and it will populate correctly on form 5695 but it would probably be nice for others to have it corrected.  Thanks.

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3 Replies

Form 5695 Qualified Energy Property Costs

This is a know issue with the wording and has been reported.

 

On the page Enter Your Qualified Energy Costs use the box labeled Water boilers for the cost of the furnace.  The box needs to be re-labeled.  If you click on the Learn More link it will describe -

Enter the amounts you paid for a natural gas, propane, or oil furnace or hot water boilers...

 

That is the correct location to enter the furnace cost as it will flow to the Form 5695 Line 24a for Enter the cost of natural gas, propane, or oil furnace or hot water boilers

firedan
Returning Member

Form 5695 Qualified Energy Property Costs

That's pretty much what I stated in the post... but how do I get TurboTax to correct it?  Many people that use turbotax won't know to enter it in the "wrong" box?

 

firedan
Returning Member

Form 5695 Qualified Energy Property Costs

Never mind.. you note at the start, it is a known issue and was reported.  Thanks.

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