FORM 5695

Forum|Forum|2 years ago
January 22, 2024
2 replies
47 views

Hi,

One of my client spend 15000 for hot water boiler. Where do i enter the amount? I entered in 22b and only $150 credit generated by proseries in line 32 and no change in the refund. Did i anything wrong?

GK

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

Hi Lisa,

I still have issue, there is NO amount flowing to 18a-20b. I checked 17a-e and 21a-b. Could you kindly advise?

@gk77_2 this thread is pretty long, what kind of energy improvement did your client install so I can find my way to the right section?

Just-Lisa-Now-

Intuit Community Champion

I just tried to look for you and while attempting to access the HELP window for the lines on the 5695 to verify what belonged on which line, the program crashed and closed down, so thats a great start to Monday morning.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Just-Lisa-Now-

Intuit Community Champion

Restarted the program, seems to be working now. Reading the 5695 instructions, page 3, $150 appears to be the the correct amount, but is it a non-refundable credit?.

Have you looked at the actual tax return (not just the refund meter) and followed the money to see how the credit gets applied?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

G

gk77_2Author

Level 6

i saw the amount in sch 3 and there is no change in the refund? it goes away. how to resolve this.

G

garman22

Intuit Community Champion

15k for a hot water boiler? Do you mean 1,500?

I also see a $150 credit. It should lower liability. Do they have liability?

IRonMaN

Level 15

A hot water boiler is a fancy name for furnace. A few folks in the Chicago area wished they had a new $15,000 system to keep their Tesla's warm a week or so ago.

Slava Ukraini!