Credit carry forward form 5695

I installed solar panels in 2019 and received a Credit carry forward of $18,235. 2021 is the first year I've actually had to pay taxes. Hopefully I'm doing something wrong because on line 12 of form 5695 it shows $1,858. Am I mistaken that I can't apply as much as needed to cover income taxes this year? Thanks.

864

Expert Alumni

Feb 24, 2022 7:19:10 PM

Line 12 of form 5695 would be your unused credit carryforward from the previous year. I suggest you go back to your 2019 tax return and review the form 5695 for that year and 2020 to see how the credit was applied.

Level 1

Feb 25, 2022 5:00:29 AM

Thanks for your advice. It didn't change in 2019 and 2020 because I didn't make enough income to have to pay taxes. I'm semi-retired but made enough money in 2021 to have a tax liability. Thanks again.

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Credit carry forward form 5695