How and where do I claim Inflation Reduction Act tax credits?

[jarednielsen]

Hey! How and where do I claim deductions for the Inflation Reduction Act. The Home Energy Credits under Deductions and Credits does not provide options for all available tax credits.

According to the IRS: File Form 5695, Residential Energy Credits Part II, with your tax return to claim the credit.

And Form 5695 does provide all available options. I'm specifically looking for the following in TurboTax:

• 18 Insulation or air sealing material or system.
• 25a Enter the cost of improvements or replacement of panelboards, subpanelboards, branch circuits, or feeders
• 26 Home energy audits.

I can find Insulation, but I don't believe it calculated correctly. The other two are not available.

Thank you!

[JohnW152]

You're correct.  Form 5695, Residential Energy Credits, the form on which these costs would be claimed for tax year 2023, hasn't yet been finalized in TurboTax.

The form is tentatively scheduled for use on February 7th, 2024.  You can check for any updates in TurboTax's Tax form availability app.

See the Instructions for Form 5695 for more information.