What is Form 5695?
IRS Form 5695 is used to calculate residential energy credits. There are 2 different credits available:
- Nonbusiness energy property credit is for installing energy efficient improvements (insulation, windows, doors, etc.) on your main residential dwelling located in the U.S.
- Residential energy efficient property credit is for installing alternative energy equipment (solar- or wind-powered, etc.) on your main dwelling or a second home located in the U.S.
More details about these credits are available at the Federal Energy Star website. TurboTax will automatically generate Form 5695 if it's needed on your return.