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caroljo
Level 5
February 7, 2025
Solved

What line on form 5695 do I put Energy Efficient freezer for the credit

  • February 7, 2025
  • 4 replies
  • 8 views

I am filling out the Residential Energy Credit form...5695.  What line do I put an Energy Efficient freezer?

This topic has been closed for replies.
Best answer by IRonMaN

You don't.  Your state may have some kind of credit or rebate for that, but the federal doesn't.

4 replies

IRonMaN
IRonMaNAnswer
Level 15
February 7, 2025

You don't.  Your state may have some kind of credit or rebate for that, but the federal doesn't.

Slava Ukraini!
Level 8
February 7, 2025

I sure hope the new tax law eliminates this credit once and for all.  I waste more time on this than anything else, other than trying to twist open bottles of Fireball.  Nothing qualifies.  Seriously, what percentage of furnaces, a/cs, hot water heaters, windows, etc. qualify, even before the more restrictive rules took effect last year?  And then dealing with “hey, I got a freezer, dishwasher, washing machine, how much do I get off my taxes?”  The entire credit is a joke.  Just thinking about it wants me to start drinking already at 9:10 am.

IRonMaN
Level 15
February 7, 2025

I spent more than a fair amount of time last year looking up furnaces and air conditioners.  I just did one with solar panels last night.  Surprisingly, the client provided all the paperwork I needed so I didn't have to spend the evening researching.  Hopefully things go smoother this year rather having peaked early last night. 😬

Slava Ukraini!
Just-Lisa-Now-
Intuit Community Champion
February 7, 2025

There are no federal credits for appliances, only energy IMPROVEMENTS on the home.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
caroljo
caroljoAuthor
Level 5
February 7, 2025

Hi Lisa..That is what I thought until I researched it and found that is is eligible for the credit.  Of course, now I can't remember where I found it.  I was surprised because I have always told my clients that they were not eligible.  My client insisted that I look for it and while she was here I found it.  I felt pretty dumb.  the only thing is that I can't find the line number for it.  If I find where I found the information I will post on here to tell all of us.  

abctax55
Level 15
February 7, 2025

I think you're wasting your time, per Energy Star:

https://www.energystar.gov/about/federal-tax-credits

HumanKind... Be Both
caroljo
caroljoAuthor
Level 5
February 7, 2025

Well, I found out why the client was so sure that there should be a credit.  Come to find out the guy who delivered the freezer told her to be sure to hold on to the Energy Star tag because she would get a really good tax credit for it.  So I called the store where she bought it and told them they should not be telling their customers that there was a credit.  She was shocked to find out it was happening and said they didn't do their own delivery but another company was farmed out to deliver.  She was going to contact them to set them straight.  So lets be sure we don't listen to the delivery boy!!!!

 

Just-Lisa-Now-
Intuit Community Champion
February 7, 2025

I had a lady in yesterday that bought an EV Honda and the finance manager told her to be sure to take all the papers to her tax preparer to get the credit....there's no credit for this Honda.  She didnt have any tax liability anyhow so she wasnt worried about it, but thats how bad information gets passed around.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
qbteachmt
Level 15
February 8, 2025

Power companies might offer either a credit or a rebate. The manufacturer might offer a rebate. The State might offer a rebate or a credit. The Feds do not.

That doesn't stop sales people from making these statements.

Don't yell at us; we're volunteers