As ebove78 pointed out last year... Your software only asks for geothermal heat pumps which aren't limited to 30%. There is no place to enter an electric heat pump that gives you a 30% credit up to $2000.
An expert told him to put it under "energy efficient building products". That is wrong as that only has heat pump water heaters and the limit is 10% up to $300.
This is his reply:
Thanks Kris, that option is not allowing me to claim 30% of the cost including labor as it has built in limitations.
I should be able to claim 30% provided I meet the requirements (which I do).
"Heat pumps and biomass stoves and biomass boilers (30% of costs, including labor) satisfying the energy efficiency requirements in Q1 under the Energy Efficiency Requirements section: o electric or natural gas heat pump water heaters; o electric or natural gas heat pumps; and o biomass stoves and biomass boilers."
Based on this I feel I should be able to claim my electric heat pump even if not geothermal, but the forms doesn't seem to agree.
April 12, 2023 2:02 PM
I am still having that same problem this year. I qualify for 30% up to $2000 and will not use Turbotax to file my return if this is the case. I downloaded form 5695 and instructions and it works fine on paper.
