Energy credit

Forum|Forum|2 years ago
January 18, 2024
13 replies
57 views

Where do I enter the cost of a Energy Star furnace/heat pump. I cannot seem to find it on the 5695 worksheet???

This topic has been closed for replies.

Best answer by Terry53029

When form is ready, heat pumps are entered on line 29 not line 22, as line 22 is for a regular high efficient furnace or boiler powered by natural gas, propane, or oil. The credit for heat pumps is up to $2000 as opposed of up to $600.

Jim-from-Ohio

Intuit Community Champion

LINE 22, BOX A.. and here is the proof.. right click > About on that line

Just-Lisa-Now-

Intuit Community Champion

Using the Right Click > About option or hitting the Yellow ? button while your cursor is on a line is a great way to learn what belongs on each line.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

TaxGuyBill

Don't enter it anywhere (yet). The form is not ready and doesn't have a legitimate spot for it yet.

T

Terry53029

Answer

Intuit Community Champion

When form is ready, heat pumps are entered on line 29 not line 22, as line 22 is for a regular high efficient furnace or boiler powered by natural gas, propane, or oil. The credit for heat pumps is up to $2000 as opposed of up to $600.

R

Randy HaynesAuthor

Level 4

Thank you. The fact that the form is not yet ready is the basic answer my question.

qbteachmt

Level 15

You need to check and see if that equipment qualifies for the tax credit. Energy Star is not Tax Credit. These are two different things.

https://www.energystar.gov/about/federal_tax_credits_consumer_energy_efficiency_definitions

Don't yell at us; we're volunteers

T

TaxGuyBill

@qbteachmt wrote:

You need to check and see if that equipment qualifies for the tax credit. Energy Star is not Tax Credit. These are two different things.

https://www.energystar.gov/about/federal_tax_credits_consumer_energy_efficiency_definitions

Good catch.

And from what I've researched, the equipment needs to be VERY high efficiency and that unless you specifically 'shop' for a qualifying item, there is a good chance it won't qualify.

Sign up

Login with SSO

Let's get you signed in

Login with SSO