Residential Energy Credit

[SensibleandHourly]

Hi everyone, 

Any experts out there on Residential Energy Credits? I knew they were limited but didn't realize just how limited! Is there more to report than the $500 on Form 5695? I thought I read in the instructions that there was more than one form? 

Thank you in advance if anyone has any energy left to respond, lol. 

I think I'm out of coffee! 🙂 

[Just-Lisa-Now- · Accepted solution]

different limits for different stuff, yea that lifetime $300 or $500 amount for stuff that costs 10s of thousands of $$ is ridiculous.

[TaxGuyBill]

As Lisa said, the pre-2023 credit is sort-of dumb.  Lifetime limit of $500 (assuming you aren't talking about solar, geothermal, etc.).

Congress FINALLY fixed things by making it much better starting in 2023, but we are stuck with the dumb limits for before 2023.

[SensibleandHourly]

I'm bummed, I really thought I had read where there were changes to that. I must have been confused as to the year. 😞

[SensibleandHourly]

Definitely not much of an incentive!