You are asking from TT Live, for which you paid extra. Please contact a rep.https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live The Residential Energy Efficient Credit is "non-refundable." That means the credit cannot exceed the amount of tax you owe. What you cannot use this year carries forward. To claim the solar credit, please follow these steps:In TurboTax, open your tax returnClick on Federal in the left-hand column, then on Deductions & Credits on top of the screenScroll down to All Tax breaks, locate the section Your Home and click on Show moreClick Start next to Home Energy Credits (see screenshot)Follow the interview to enter your information. Also, here’s the federal solar tax credit’s value :2018: 30%2019: 30%2020: 26%2021: 26%2022: 26%Here are some examples of what you can claim:Solar ProductsPermitting Services and FeesInstallation CostsEngineer FeesElectrician FeesShipping CostsSolar Consulting FeesTools Purchased or RentedGeneral Equipment Costs (Fork-list, Safety Harnesses, etc.)Any Miscellaneous Costs and Fees (For Solar)This guide covers it in-depth

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manojlal

Level 1

Question

I have installed a solar panel for my primary home this year. I own the solar but finance it which cost me $33648.00. how much credit I will get ? what form I fill out?

Forum|Forum|4 years ago
January 22, 2022
1 reply
6 views

No text available

TurboTax Live Self Employed

Critter-3

Level 15

You are asking from TT Live, for which you paid extra. Please contact a rep.
https://ttlc.intuit.com/questions/4124827-how-do-i-connect-with-a-tax-expert-in-turbotax-live

The Residential Energy Efficient Credit is "non-refundable." That means the credit cannot exceed the amount of tax you owe. What you cannot use this year carries forward.

To claim the solar credit, please follow these steps:

In TurboTax, open your tax return
Click on Federal in the left-hand column, then on Deductions & Credits on top of the screen
Scroll down to All Tax breaks, locate the section Your Home and click on Show more
Click Start next to Home Energy Credits (see screenshot)
Follow the interview to enter your information.

Also, here’s the federal solar tax credit’s value :

2018: 30%
2019: 30%
2020: 26%
2021: 26%
2022: 26%

Here are some examples of what you can claim:

Solar Products
Permitting Services and Fees
Installation Costs
Engineer Fees
Electrician Fees
Shipping Costs
Solar Consulting Fees
Tools Purchased or Rented
General Equipment Costs (Fork-list, Safety Harnesses, etc.)
Any Miscellaneous Costs and Fees (For Solar)

This guide covers it in-depth

SteamTrain

Level 15

Comment removed...all updated now.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Critter-3

Level 15

Installing solar panels earns you a federal tax credit. That means you'll get a credit for your income taxes that actually lowers your tax bill. ... In 2021, the ITC will provide a 26% tax credit for systems installed between 2020 and 2022, and 22% for systems installed in 2023.