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Level 2
December 7, 2019
Solved

Why has Form 5695 Part II not been updated? Am I missing something here?

  • December 7, 2019
  • 2 replies
  • 21 views

The nonbusiness energy property credit was recently extended retroactively to 2018 but form 5695 Part II still says "reserved for future use."  Lacerte shows the form as final as of January 2019.  An IRS website search shows a dozen forms that are expected to have post release changes and this form is NOT on that list.  What am I missing?  Thanks in advance.

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Best answer by TaxGuyBill

It has NOT been retroactively extended (yet).

Why do you think it has been extended?

2 replies

Level 15
December 7, 2019

It has NOT been retroactively extended (yet).

Why do you think it has been extended?

Level 2
December 7, 2019
Well that explains a lot :).  I'm not sure where I got that idea from...ugh...obviously it wasn't authoritative.  Thanks for your quick response.  
abctax55
Level 15
December 7, 2019

Per other list-serves (AND the notice Intuit put out - I swear I saw an Intuit notice but I can't find it now :-), legislation has been proposed in the Senate to re-extend the extenders.  Chatter indicates they *might* get around to voting late March or early April.

Can anyone say "CLUELESS" ?!?!  These bozos in Congress have zero concept of what goes on in the real world of taxes. 

HumanKind... Be Both