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Get your taxes done using TurboTax
The credit for the electric panel maxes out at $600 or 30%. So, in your case, $600.
You can pair it with any number of other energy improvements including EV charging and solar. They definitely don't need to be on the same receipt.
All of the improvements or additions are credited in the year that they are done so if you do all of them in 2024 they would all go on the 2024 tax return.
They are also all non-refundable credits which is to say they reduce your tax bill but can't be added to your refund if you don't use them all. So they roll over into the next year.
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‎February 7, 2024
12:15 PM