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scfearon
New Member

Why is my home energy credit $0 when I have $6,600 in qualifying expenses?

 
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Vanessa A
Employee Tax Expert

Why is my home energy credit $0 when I have $6,600 in qualifying expenses?

The Home Energy Credit Section of TurboTax is not currently up to date.  A release updating this section is expected on February 7th.  Please come back after that date to enter your expenses to claim the Home improvement Energy Credit. 

 

Also remember, the Home Energy Credits are nonrefundable credits.  A nonrefundable credit provides no benefit or less benefit to you when you have no tax liability or less liability than your credit.  Look at line 16 on your 1040, then also look at line 24. If the amount on line 16 is less than the full credit, then this is the maximum amount of the credit you use this year will be that number.  If you have other credits, that may also reduce the tax liability, this may also reduce the amount of the credit you receive.  

 

Then look at line 24.  If this line is $0, then you received one of more credits that brought your taxes down to $0.  If this is the case, and you had multiple nonrefundable credits, you may not get the full credit for one or more of the credits or may not be able to claim the home energy credit at all.

 

 

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