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Get your taxes done using TurboTax
Hi Paul,
Congrats on taking the steps to make your home more energy efficient.
When you purchase solar equipment or certain wind turbines for your home and have tax liability, you generally can claim the Residential Clean Energy Credit to lower your tax bill. This non-refundable credit can offset your income tax liability on a dollar-for-dollar basis (meaning you need tax liability to claim this credit), but any excess credit won’t be refunded. In the event the credit you qualify for exceeds your tax liability for the year, you can “roll over” the unused portion to future years so long as the credit remains in effect.
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June 28, 2023
9:11 AM