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Hello,
How do I generate the previous version of form 5695 in Proconnect tax online to claim energy efficient home improvements installed in 2022 tax year. Credit was never claimed Initially.
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Wouldn't that be found in the 2022 software when you amend the return?
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It says the credit can be claimed in future tax year but to use the previous version of 5695. it does not say on the IRS page to amend the tax return just to claim the energy efficient credits the 2022 credits and older can be claimed. Credits for improvements made in tax year 2022 or earlier can be made through 2032.
Unless if Proconnect does not have this option to generate the older version or claim prior years energy efficient credit on its software.
https://www.irs.gov/credits-deductions/home-energy-tax-credits
https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
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From IRS go to forms and you can find prior year forms
https://www.irs.gov/pub/irs-prior/f5695--2022.pdf
Even REALLY EARLY ONES!!! https://www.irs.gov/pub/irs-prior/f1040--1913.pdf
P.S. I am only providing what you asked for. I am not commenting on what you are doing.
Answers are easy. Questions are hard!
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Hi George,
Thank you for your response. a little more help, Does this mean I would have to attach the PDF file to the tax return, also I want to make sure the amount generates to the return since I can not use the current version. I guess my question is I now understand what I need to do, but i don't know how to go about it.
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Like @abctax55 I think you are reading something incorrectly. If the improvement was made in 2022, the credit should be on a 2022 return. That would be done on an amended 2022 return. What did you find that makes you think you can just pick it up in a later year. Where is that citation?
Answers are easy. Questions are hard!
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"Credits for improvements made in tax year 2022 or earlier can be made through 2032."
That's not quite how to read this provision. It means that further improvements, even into 2032, may still meet provisions that extend to 2032 instead of sunsetting sooner.
It's right here:
"The amount of the credit you can take is a percentage of the total improvement expenses in the year of installation"
Don't yell at us; we're volunteers
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Thank you all for your contributions.
I Think I understand it now. I will review it and amend the 2022 tax return to claim the energy improvement tax credit.