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Tax lady missed the residential energy credit

Post in 'The Hearth Room - Wood Stoves and Fireplaces' started by Highbeam, Mar 5, 2013.

  1. Highbeam

    Highbeam Minister of Fire

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    base of Mt. Rainier on the wet side, WA
    You would think the professionals would be hip to this. I even tipped her off but I think she only applied the state sales tax I paid.

    If anybody wants the "proof" in a quick link from the IRS....

    http://www.irs.gov/pub/irs-pdf/f5695.pdf

    It's line 24a and can include installation labor and site upgrades. Get your 300$!
    Jon1270 likes this.

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  2. BrotherBart

    BrotherBart Hearth.com LLC Mid-Atlantic Division Staff Member

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    Been there done that. Saved enough to buy a tee shirt.
  3. fossil

    fossil Accidental Moderator Staff Member

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    Not all that big a deal to file an amended return (1040X).
  4. begreen

    begreen Mooderator Staff Member

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    Hope she does better with the mini-split. Remember, no WA state sales tax on that.
  5. nate379

    nate379 Guest

    $300?

    More like 30%. For me that was almost $4000. Line 1 on that form, though it looks different in Turdbo Tax.
  6. ArsenalDon

    ArsenalDon Minister of Fire

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    I used to prepare taxes for 21 years before I quite for my coaching gig...but honestly if you are not from the country where she does a lot of these not hard to miss...however the fact that you told her and she still screwed up??? find a new tax person!
  7. begreen

    begreen Mooderator Staff Member

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    $300 is the cap for stoves now I think.
  8. ArsenalDon

    ArsenalDon Minister of Fire

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    yup and 500 lifetime energy credit
  9. ailanthus

    ailanthus Feeling the Heat

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    Feb 17, 2012
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    Shen Valley, VA
    My tax guy claimed the woodstove tax credit with my prompting. Unfortunately, the IRS wasn't accepting that particular form for over a month after the taxes were otherwise done - should be able to file it soon, though & get my refund. I had no idea that there was such an intricate schedule of what forms can be filed when - always changing, too. My accountant said it's real difficult to keep up with.
  10. DanCorcoran

    DanCorcoran Minister of Fire

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    Richmond, VA
    I don't think the IRS is the problem. Congress keeps re-writing the tax code at the last minute and the IRS is supposed to rewrite all its software, re-train its staff, and publish new instructions, without any lead time.

    It's like being in the printing business...the client wants to make changes up until the day before the stuff is supposed to be mailed, without allowing any time for printing, folding, binding, and stuffing envelopes. Sheeeesh!

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